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| Tanzanian billionaire, Mo Dewj and president of Mozambique, Hon Daniel Chapo |
Tanzanian billionaire businessman and CEO of Mohammed Enterprises Tanzania Limited (MeTL), Mohammed Dewji, known as 'Mo Dewji', has pledged to invest $250 million (over 600 billion Tanzanian shillings) in Mozambique, with the investment aimed at creating 20,000 jobs for the local population.
Mo Dewji made this commitment following a meeting with Mozambique's President, Daniel Chapo, in Maputo, where he stated that their discussions were fruitful and he has already identified various investment opportunities in the country.
According to the Mozambique presidency, this investment is expected to align with the various activities undertaken by MeTL and could open up strategic opportunities, including the establishment of new production, distribution, and service chains.
At 51 years old, Mo Dewji, whose wealth is estimated by Forbes to reach $2.1 billion, previously served as the Member of Parliament for Singida Urban from 2005 to 2015 and currently owns 49% of Simba SC football club.
MeTL is one of Tanzania’s largest privately owned conglomerates, with businesses spanning agriculture, manufacturing, food and beverages, textiles, energy, petroleum, financial services, logistics, infrastructure and real estate.
The company says it employs about 37,000 people and operates in more than 10 African countries, including Mozambique, Malawi, Zambia, Uganda, Kenya, Rwanda, Burundi, Ethiopia and the Democratic Republic of Congo.
MeTL’s experience in agriculture, food processing, textiles and consumer goods could therefore be particularly important if the promised funds are directed towards labour-intensive industries.
The proposed investment also reflects attempts to increase commercial links between two neighbouring African economies.
Presidents Chapo and Samia Suluhu Hassan agreed in May 2025 to establish a Joint Economic Commission covering trade, investment, agriculture, energy and infrastructure.
Available trade figures show that the commercial relationship remains relatively small. Mozambique exported goods valued at about $4.59 million to Tanzania in 2024 while importing approximately $65 million, according to the Observatory of Economic Complexity.
MeTL’s expansion is expected to increase the movement of capital, manufactured goods and agricultural products between both countries. It could also give the conglomerate a stronger base from which to serve markets across southern Africa.