Arusha. Tanzanian dollar billionaire Mohamed Dewji will soon ink a $ 100 million investment deal in Rwanda.
Discussions are in the final stages for his MeTL Group to invest in four Rwandan firms, largely manufacturing and processing.
This emerged during the just-ended African Food Systems Forum/AGRF after the Tanzanian tycoon met the Rwanda officials.
The latter included the Rwanda minister for Agriculture and Animal Resources Ildephonse Musafiri and the deputy CEO of the investment agency Nelly Mukazayire.
The talks, held in Dar es Salaam, focused on enhancing collaboration and expediting MeTL Group’s investments in Rwanda.
It also emerged after the discussions that in that pursuit, MeTL Group has already acquired in Rwanda for the purpose.
The Rwandan companies targeted are engaged in the production of edible oil, soap and wheat and maize milling.
Others are involved in carbonated beverages, plastic bottle recycling, agriculture and fuel storages among other strategic sectors.
The family-owned MeTL Group, which was formed in the 1970s, currently operates in 11 African countries. In Tanzania, the conglomerate employs about 38,000 people.
It currently manufactures various products such as wheat and maize flour, edible oil, and detergents with the processing plants scattered across various areas in Tanzania and the neighbouring countries.
During his meetings with the Rwanda officials, Mo Dewji is reported to have expressed his gratitude and willingness to expand his empire there.
“As a businessman, I’m grateful for the support and facilitation extended by Rwanda’s institutions,” he was quoted saying by the Rwanda media.
The facilitation extended to him has inspired him to seek investment opportunities in the tiny country reckoned to be among the fastest growing economies in the region.