MOHAMMED Dewji popularly known as Mo, has continued to hold the first spot as Africa’s youngest billionaire, according to the latest report released by Forbes Africa’s Billionaires.
Despite losing US dollars 300million, the Tanzanian tycoon has continued to maintain the first spot in six years running. According to the latest report Mo Dewji is now worth US dollars 1.6 billion.
According to the latest report, he has climbed one position in the list of Africa Forbes Africa’s billionaires as he now occupies Number16th slot. In the previous report he was ranked 17th.
Dewji is one of the key players in private sectorled development in the country, well known for being a leader in local employment and manufacturing in East and Central Africa.
His conglomerate, the METL Group, operates in over 35 industries as diverse as trading, agriculture, manufacturing, energy and petroleum, financial services, mobile telephony, infrastructure and real estate, transport, logistics and distribution.
With a passion in football, Dewji is a major Simba Sports Club investor and now the Chairman of the Board. He has pledged to invest further towards the development of the sport.
Dewji who is best known in the manufacturing sector has been eyeing to expand his businesses in several countries in Africa.
Dewji, served as member of the Tanzanian Parliament for Chama Cha Mapinduzi (CCM) from 2005 to 2015 for his home town of Singida. Dewji is also the first Tanzanian to cover Forbes Magazine in 2013.
In a recent interview Dewji expressed his commitment to invest 500bn/- in the country and increase 500,000 employment opportunities in five years.
Isabel dos Santos, the oldest daughter of Angola’s longtime former President, Jose Eduardo dos Santos ( 46) also appears to perform well among young billionaires as she is now worth US dollars 2.2billion.
Aliko Dangote is again the Africa’s richest man with worth reaching US dollars 10.1billion. He founded and chairs Dangote Cement, the continent’s largest cement producer.