Meet the youngest billionaire in East Africa

janet ndila

March 22, 2017 11:07 AM

Tanzania has produced the youngest billionaire in East Africa with Kenya missing out on...

Mr Mohammed Dewji

Mohammed Dewji has been ranked as the youngest Billionaire in East Africa by Forbes magazine with a net worth of USD1.4 Billion.

Mr Dewji, who is only 41 years of age, is the CEO of METL, a Tanzanian conglomerate founded by his father in the 1970s.

It’s active in textile manufacturing, flour milling, beverages and edible oils in eastern, southern and central Africa.

Dewji operates in at least six African countries and his net worth rose due to an increase in sales in 2015. He retired from Tanzania's parliament in early 2015 after completing his two terms.

In 2016, Tanzania’s only Billionaire signed a pledge to donate half of his wealth and has a foundation that provided scholarships for poor children in Tanzania named- Dewji Foundation.

None of the billionaires who were ranked in Africa came from Kenya unlike in the past.

Nigeria’s Aliko Dangote was named the richest man in Africa with a net worth of USD12.2 billion.

Dangote founded Dangote Cement, which is the largest cement producer in Africa. In the recent past, speculations have been rife that the Billionaire wants to but Arsenal.

Dangote was followed by South Africa’s Nicky Oppenheimer, who whose investment is only in diamond with a net worth of USD 7 Billion.

Bill gates was named the richest man in the world for the fourth year in a row with a fortune of $86 billion.

US President Donald Trump also appeared on the list at number 544 with an estimated wealth of USD3.5billion. The US president has invested in real estate and television.

janet ndila