Tanzania’s youngest billionaire, Mohammed “Mo” Dewji, has secured fresh backing to strengthen the country’s agricultural sector, after the African Development Bank Group approved a $24.6 million senior corporate loan to his Mohammed Enterprises Tanzania Limited Group. The financing will support a programme designed to modernise plantations, expand processing capacity and increase export earnings across a range of agricultural products.
The funding approval reflects confidence in the private sector’s role in driving long-term food security and industrial growth. For Tanzania, agriculture remains the backbone of the economy, and MeTL’s expansion is positioned to create opportunities for thousands of rural households while strengthening the country’s manufacturing footprint.
The AfDB-backed initiative includes plans to rehabilitate ageing tea estates and convert more than 1,000 hectares into certified organic plantations. It also provides for upgrades to processing facilities to help double production volumes, the establishment of 15,000 hectares of sisal plantations, and the development of a 200-hectare macadamia plantation.
By improving rural infrastructure and modern equipment, the programme aims to give smallholder farmers better access to value chains and regional markets, which could lift incomes across agricultural communities that rely heavily on cash crops.
Over 1,400 new jobs are expected to be created, with women and younger workers set to benefit significantly. The expansion could generate more than $10 million in additional export revenue every year and contribute an estimated $36 million in taxes to the government.
The loan is part of a larger $74.7 million investment package that includes co-financing from ILX B.V. and equity from MeTL. The broader programme promotes climate-smart agriculture and stronger value addition in Tanzania’s farm sector.
“This partnership is about transforming potential into prosperity,” said Charles Orwothwun, Chief Investment Officer at the AfDB, noting the focus on inclusion and sustainability.
Founded in the 1970s by Gulamabbas Dewji, MeTL has grown into the country’s largest private employer and one of East Africa’s most diversified conglomerates. Its operations range from food and beverages to textiles, logistics, energy supply and manufacturing.
Since taking over as CEO in 2005, Dewji has expanded company revenues from around $30 million to roughly $2 billion, guided by steady investment in technology, product development and workforce expansion. His philanthropic foundation continues to focus on education, poverty reduction and wider access to economic opportunities.
As MeTL deepens its presence in agriculture, Tanzania is banking on a sector that has the capacity to drive export-led growth, create skilled employment and reinforce the country’s economic resilience.
