Mohammed Dewji, Tanzania's wealthiest businessman, has announced a $275 million investment plan targeting the mining and tourism sectors. The investment, disclosed during a press conference in Dar es Salaam, is expected to significantly boost the East African nation's economy and create thousands of jobs.
Investment Details and Sectors
Dewji's conglomerate, MeTL Group, will allocate $150 million to mining operations, focusing on gold and gemstones, and $125 million to tourism, including hotel development and eco-tourism projects. According to Dewji, the mining investment will modernize extraction techniques and increase local processing capacity.
“This investment is a testament to our confidence in Tanzania's economic potential. We aim to create sustainable value for our communities and the nation at large,” Dewji stated.
Economic Impact and Job Creation
The tourism component includes construction of two luxury resorts in Zanzibar and a safari lodge in Serengeti National Park. MeTL Group estimates the projects will generate 5,000 direct jobs and 15,000 indirect jobs. The mining expansion is projected to increase gold production by 30% over three years.
Tanzania's mining sector contributes about 5% to GDP, while tourism accounts for roughly 17% of foreign exchange earnings. Analysts say Dewji's investment could raise these figures significantly.
Government Support and Regulatory Framework
Tanzanian Minister for Minerals, Doto Biteko, welcomed the investment, stating that it aligns with the government's strategy to attract private capital. “We have reformed mining regulations to ensure transparency and mutual benefit. This investment shows that Tanzania is open for business,” Biteko said.
Dewji's announcement comes amid a broader push by President Samia Suluhu Hassan to revive foreign investment after years of policy uncertainty. The country has revised mining contracts and tax incentives to lure investors.
MeTL Group's Portfolio and Future Plans
MeTL Group operates in sectors including agriculture, manufacturing, logistics, and finance. With operations in 12 African countries, the group reported revenues of $1.5 billion in 2025. Dewji indicated that further investments in renewable energy and infrastructure are under consideration.
“We are in discussions with international partners to expand our footprint. Tanzania offers immense opportunities, and we intend to be at the forefront of its economic transformation,” he added.
