Africa’s youngest billionaire Mo vows to support govt in job creation

25Jan 2021
By Guardian Reporter
Dar es Salaam
The Guardian
Africa’s youngest billionaire Mo vows to support govt in job creation
  • endeavours

A DAR ES SALAAM-based businessman Mohammed Dewji has pledged to support the government’s job creation endeavours by increasing the number of people who be employed in his companies from 32,000 to 100,000 by end of this year.

businessman Mohammed Dewji.

Dewji made the pledge when commenting on recently released Forbes’ ranking of Africa’s billionaires listing in 2021; where he has maintained his position as the youngest billionaire with unchanged fortune of $1.6 billion as compared to outcome of the 2020 evaluations.

He said that the new drive is geared towards complementing government’s efforts of creating more  job opportunities to Tanzanians.

According to him, the focus is to promoting employment by increasing the number of my employees from 32,000 to 100,000 reaching end of the year.

He said was impressed by recognition and motivations he was getting from the Forbes’ rankings of Africa’s billionaires listings, hence encouraging him to invest on development of the country and its people.

Dewji who is popularly known as ‘Mo’  said that he’s standing shoulder to shoulder with President John Magufuli’s government that has been making encouraging industrial reforms, which according to him have increased opportunities for people to start industries, disclosing that his target was to start five to 10 factories by end of this year.

He further noted that the promise he made in a group of world riches that he will sacrifice 50 percent of his wealthy to the poor, saying once blessed, “people are supposed to remember the needy”.

Forbes’ ranking of Africa’s billionaires listing of 2021 shows that the Nigerian tycoon Aliko Dangote is still Africa’s richest man with a fortune of $12.1 billion, according to the Forbes ranking.

In 2020, Dewji who is the CEO of Mohammed Enterprises Tanzania Limited (MeTL) had a fortune of $1.6 billion, some $300 billion less as compared to $1.9 billion recorded in 2019.

However, he cited the decline to long term investment in the agro-business.

Nassef Sawiris, “a scion of Egypt’s wealthiest family,” according to Forbes, comes second in the list, after Dangote with $8.5 billion real time net worth as of Saturday.

Nicky Oppenheimer & family comes of South Africa comes third with $8.0 billion fortune and Johann Rupert & family emerged fourth with $7.2 billion wealth.

Mike Adenuga, regarded as Nigeria’s second richest man, comes third in the list with real time net worth of $6.3 billion, down from $7.7 billion last year.

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