Maputo — MeTL Group, a Tanzanian conglomerate and one of the country's largest companies, has announced 250 million dollars investment in Mozambique.

According to Mohammed Dewji, MeTL Group CEO, speaking to reporters after being received in an audience by Mozambican President Daniel Chapo, the investment in question may create 20,000 jobs, bolster prospects for expanded economic and business cooperation between Mozambique and Tanzania.

"I am an entrepreneur from Tanzania, and it was an honor to meet the President; we see the great vision he has for this beautiful country, Mozambique. We had a very fruitful discussion and have committed to investing USD 250 million in Mozambique and aiming to employ 20,000 Mozambicans", Dewji said.

This meeting takes place against the backdrop of efforts to mobilize greater private investment to drive economic growth, industrialization, and job creation in Mozambique, even as the country seeks to deepen economic cooperation with other states in the Southern African region.

The group's key areas of operation include manufacturing, agriculture, energy and oil, trade and distribution, transport and logistics, financial services, real estate and infrastructure, and telecommunications and technology.

These sectors hold the potential to contribute to the diversification of the Mozambican economy, boost production, and create employment opportunities.