Tanzania’s richest man Mohammed Dewji loses $100 million after two-year surge

Tanzania’s richest man, Mohammed Dewji, has seen his fortune decline by $100 million over the past year, easing from $2.2 billion in March 2025 to $2.1 billion at the time of drafting this report, according to estimates by Forbes. Despite the drop, Dewji retains his position as Tanzania’s wealthiest individual and remains one of East Africa’s most prominent business leaders through his leadership of Mohammed Enterprises Tanzania Limited (MeTL Group).

The decline follows a period of strong growth in Dewji’s wealth. Between March 2023 and March 2025, his net worth rose from $1.5 billion to $2.2 billion, supported by the expansion of MeTL Group and broader improvements in business performance across key sectors. The recent decline reflects a reassessment of company valuations and changing global economic conditions that have affected privately held businesses and emerging-market conglomerates.

Global pressures hit African businesses

Since the start of 2026, company valuations have faced pressure from rising geopolitical tensions, higher energy costs, and a pullback in previously elevated artificial intelligence-related stocks. These developments have prompted investors and analysts to adopt a more cautious outlook, affecting the estimated value of diversified business groups such as MeTL.

Brent crude oil prices have also climbed above $100 per barrel amid renewed tensions in the Middle East, increasing transportation and production costs for manufacturers and consumer goods companies. Higher energy costs have narrowed profit margins across several industries, including food processing, agriculture and manufacturing—sectors where MeTL Group maintains a strong presence.

In addition, supply disruptions in urea, a key fertilizer component, have added to operational challenges for agricultural and manufacturing businesses. Rising input costs tied to fertilizer and logistics have affected several companies in East Africa, including large conglomerates dependent on imported raw materials. These developments have contributed to the moderation in Dewji’s estimated net worth.

Diversified MeTL drives Dewji’s fortune

MeTL Group remains central to Dewji’s wealth. Founded in the 1970s by his father, Gulamabbas Dewji, the company began as a modest trading business before expanding into one of Tanzania’s largest privately owned enterprises. Today, the conglomerate operates across food and beverages, agriculture, energy, textiles, logistics and manufacturing, with operations spanning multiple African markets.

Since Dewji assumed leadership as CEO and president in 2005, MeTL’s revenue has grown from $30 million to over $2 billion. The expansion has been supported by new product lines, investments in manufacturing capacity and regional growth. While the recent decline reflects global economic headwinds, Dewji’s diversified business interests and MeTL’s footprint across essential sectors continue to support his standing among Africa’s wealthiest business leaders.