In a move that signals growing investor confidence in Rwanda's agricultural sector, Tanzanian billionaire Mohammed Dewji has expressed a keen interest in channeling significant investment into the country. Dewji, who heads the diversified MeTL Group, is looking to invest around $100 million in Rwandan enterprises, with a particular focus on agriculture.
A Strategic Meeting Sets the Stage
Dewji, whose net worth is estimated at $1.5 billion, recently met with key Rwandan officials, including Ildephonse Musafiri, the Minister of Agriculture and Animal Resources, and Nelly Mukazayire, Deputy Chief Executive of the Rwanda Development Board. The high-level discussions took place in Dar es Salaam, Tanzania, and were aimed at accelerating MeTL Group's investment in Rwanda's agricultural sector among others.
Agriculture at the Forefront
According to sources within the Rwandan Ministry of Agriculture, MeTL Group is keen on investing in companies that are strategically aligned with Rwanda's agricultural and agro-processing sectors. These include enterprises involved in the production of edible oils and wheat and maize milling—key components in Rwanda's food security strategy.
"As an entrepreneur, I am grateful for the support and facilities provided by Rwanda's institutions," Dewji noted, highlighting the conducive investment climate in Rwanda.
MeTL Group: A Pan-African Footprint
MeTL Group, a Tanzanian-based conglomerate with a workforce of 38,000, has a diverse portfolio that spans 11 African countries. The group produces a range of products, including wheat, maize flour, and edible oils, which are critical to food security and agricultural value chains across the continent.
A Philanthropic Angle
Dewji, who has climbed from the 15th to the 13th position on Forbes Magazine's list of Africa's wealthiest individuals, is not just a businessman but also a philanthropist. He signed the Giving Pledge in 2016, committing to allocate the majority of his wealth to charitable initiatives, many of which are focused on agricultural development and food security.
The Takeaway
Dewji's planned investment comes at a pivotal time for Rwanda's agricultural sector, which is increasingly being viewed as a lucrative field for private investment. With land already secured for these ventures, the stage is set for a transformative impact on Rwanda's agricultural landscape.