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Mo Dewji, a billionaire from Tanzania, wins African Industrialist of the Year

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The Industrialist of the Year award was given to Mohammed Dewji, popularly known as Mo, at the 2023 All Africa Business Leaders Awards (AABLA).

Mohamed Enterprises Tanzania Limited (METL), which has operations in 11 African nations and specialises in producing textiles, wheat, drinks, and cooking oils, is led by Mo Dewji.

Mo Dewji, who is the 13th richest person in Africa with a net worth of $1.5 billion, voiced sorrow over prior decisions to forgo investments in the banking and telecom sectors.

At the annual 2023 All Africa Business Leaders Awards (AABLA), Mohammed Dewji, commonly known as Mo, was voted Industrialist of the Year.

At the Sun City Resort’s King’s Ballroom Hall in Johannesburg, Mo Dewji accepted the honour. He was honoured by Mr. Tshokolo Petrus Nchocho, chief executive officer of the Industrial Development Corporation of South Africa.

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The AABLA management congratulated Mo and Mohamed Enterprises Tanzania Limited (METL) on Twitter. METL is a multinational company with operations in 11 African nations. It produces principally textiles, flour, drinks, and cooking oils.

Mo was honoured to receive the award and graciously accepted it on behalf of the oldest METL Group of Companies, which was formed by his father in the 1970s. He thanked President Samia Suluhu Hassan for creating a climate that was advantageous and encouraging for Tanzania’s industrial growth.

Mo congratulated the other AABLA award recipients and stressed the value of funding the African continent’s economy. He asked them to keep working to further the development and prosperity of Africa.

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Mo Dewji is the 13th richest person in Africa, according to Forbes Magazine, with a net worth of $1.5 billion (Sh3.6 trillion). However, in contrast to the prior year, his wealth decreased by $300 million in 2020. He expressed sorrow for passing up investment chances in the banking and telecom sectors in a previous interview with Forbes Magazine.

Mo said he was hesitant to invest in telecom networks because he was worried that many citizens wouldn’t be able to purchase mobile phones. Nevertheless, he expressed hope for the future and his plan to pursue other opportunities, including possible banking industry investments.

The awarding of Mo Dewji the title of African Industrialist of the Year recognises his outstanding contributions to the continent’s commerce and industry. His accomplishment acts as motivation for ambitious businesspeople all throughout the continent.

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