15 C
Wednesday, September 27, 2023

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


Related stories

Should You Choose a New Domain Extension for Your Website?

One of our readers recently inquired about our thoughts...

Five Best WordPress Business Directory Plugins

Are you looking for the best business directory plugins...

What is a Domain Name and How Do Domains Work?

Beginners frequently ask us, "What is a domain name,...

Why is WordPress Free? What are the Costs? What is the Catch?

One of the most frequently asked questions by our...

Five Best WordPress Cloud Storage Plugins 2022

Are you looking for the best WordPress cloud storage...

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.

Read Also  Four Branding Strategies That will Make Your Business Stand out in 2023

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.

Read Also  The Importance of Strategies [How To Strategically Grow Your Business]

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.

Read Also  The second-richest person in the world, Elon Musk, may lose ground to this Indian billionaire

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome & exclusive content in your inbox, every week.

We don’t spam! Read our privacy policy for more info.

InsiderBLM is a fast-growing business site with deep financial, media, tech, and other industry verticals.


- Never miss a story with notifications

- Gain full access to our premium content

We don’t spam! Read our privacy policy for more info.

Latest stories