Financial News

Billionaire Mohammed Dewji plans to invest $100 million in four Rwandan companies


During a meeting on September 6, the billionaire businessman discussed investment opportunities in Rwanda with Ildephonse Musafiri, the Minister of Agriculture and Animal Resources, and Nelly Mukazayire, Deputy Chief Executive of the Rwanda Development Board (RDB).

The talks, held in Dar es Salaam, focused on enhancing collaboration and expediting MeTL Group’s investments in Rwanda.

According to officials at the ministry, MeTL Group will be investing approximately $100 million (Rwf120 billion) in four Rwandan companies engaged in the production of edible oil, soap, wheat and maize milling, carbonated beverages, plastic bottle recycling, agriculture, and fuel storage, among other strategic sectors.

Dewji expressed his gratitude for the facilities provided by Rwanda’s institutions, stating, “As a businessman, I’m grateful for the support & facility of Rwanda’s institutions.”

MeTL, which operates in 11 African countries, has already acquired land in Rwanda for these ventures.

MeTL Group is a family-owned conglomerate based in Tanzania with 38,000 employees and currently manufactures various products, including wheat and maize flour, edible oil, and detergents.