Dewji first Tanzanian on Forbes magazine

Businessman, philanthropist cum politician Mohammed Dewji has become the first Tanzanian to appear in the front cover of the famous business magazine, Forbes.

Dewji, popularly known as Mo will brace the front cover of the Forbes Africa July edition with double deck headline about him: “100 Hours a week, $ 85 million a year.”

The magazine also published a clincher quote about more in the cover saying, “Who would have thought we could turn our business from $30 million to $1.1 billion in only 12 years?”

In his last week’s speech for Forbes Africa, Mr Mohammed Dewji, revealed that when he joined the family run business Mohammed Enterprise Tanzania Ltd (METL) in 1999 stood at annual revenue of 26 million dollars.

“Today, our projected revenue for 2013 is just over a billion dollars in Tanzania alone, we employ more than 24000 people and have a diversified group of companies in trading, manufacturing, agriculture, financial services, real estate, mobile telephony and distribution” he said.

According to Mo, the revenue from their group of companies constitutes a little over 3 per cent of the GDP of Tanzania and employs 5 per cent of the formal employment sector.

“In agriculture, METL is the largest landowner in Tanzania with over 60000 hectares to its name. In textiles, we are the largest textile manufacturers in sub-Saharan Africa,” he said. (The Citizen Reporter)