Rwanda: Tanzanian Billionaire to Invest U.S.$100 Million in Rwandan Companies

7 September 2023
The New Times (Kigali)
By Moise M. Bahati

Tanzanian billionaire Mohammed Dewji has expressed interest in investing in Rwanda through his company MeTL Group, which has operations in more than 10 African countries.

On Wednesday, September 6, the Dar es Salaam-based tycoon with $1.5 billion net worth met with Ildephonse Musafiri, the Minister of Agriculture and Animal Resources and Rwanda Development Board (RDB) deputy chief executive Nelly Mukazayire.

Their discussions, held in Dar es Salaam, focused on collaboration and ways of speeding up investments of the group in Rwanda, the ministry said in a post on X.

Today in the afternoon, Hon. Minister @Ilde_Musafiri together with the Deputy CEO of @RDBrwanda met @moodewji, the CEO of @MeTL_Group at his office in Dar es Salaam. Their discussions focused strengthening collaboration and ways of speeding up investments of the group in Rwanda. pic.twitter.com/StEwflejwb-- Ministry of Agriculture & Animal Resources |Rwanda (@RwandaAgri) September 6, 2023

Officials at the ministry told The New Times that MeTL Group expressed interest to invest around $100 million (more than Rwf120 billion) in four Rwandan companies that produce edible oil, soap, wheat and maize milling, carbonated drinks, plastic bottle recycling, agriculture, and fuel storage, among other strategic sectors.

The company has already secured land in Rwanda, the sources said.

"As a businessman, I'm grateful for the support & facility of Rwanda's institutions," Dewji said in a post on X.

Honored to connect with Rwanda's Minister of Agriculture, Honorable Dr. Illdephonse Musafiri and Deputy CEO of @RDBrwanda, Nelly Mukazayire. As a businessman, I'm grateful for the support & facility of Rwanda's institutions #AGRF #VisitTanzania #VisitRwanda @TheAGRF pic.twitter.com/wPv4XEqwgH-- Mohammed Dewji MO (@moodewji) September 6, 2023

MeTL, a family-owned and diversified group of companies headquartered in Tanzania boasting of 38,000 employees, currently produces various products including wheat, maize flour, edible oil and detergents.

The company has operations in 11 African countries, including Uganda, Ethiopia, Kenya, Burundi, Zambia, Mozambique, Malawi and DR Congo.

Read the original article on New Times.

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