Weeks After Crypto Scam, Tanzania's Richest Man Mohammed Dewji Hits 2.2 Billion Net Worth
- Tanzanias richest man, Mohammed Dewji, has gained 400 million this year, despite a cyberattack that hijacked his X account to promote a fraudulent crypto token.
- Dewjis wealth surge is tied to MeTL Groups expansion across Africa, overcoming global crises and supply chain disruptions to drive revenue past 2 billion.
- MeTL plans a 150-million investment in hybrid tea plantations and a potential 4-billion IPO in New York or London to boost Tanzanias agricultural exports.
More than four weeks after hackers hijacked his X account to promote a cryptocurrency token bearing Tanzanias name , the countrys richest man, Mohammed Dewji, has seen his net worth climb to 2.2 billion. He strongly denied any involvement in the token or the scam post made from his account, yet his wealth has continued to rise, further cementing his position among Africas richest individuals.
According to Forbes, which tracks the fortunes of the worlds wealthiest people, Dewji remains East Africas richest individual. His net worth has jumped by 400 million since the start of the year, rising from 1.8 billion on Jan. 1 to 2.2 billion at the time of this report. This comes after a 300 million increase in 2024 , when his fortune grew from 1.5 billion to 1.8 billion despite a challenging economic climate.
Dewjis wealth rises amid MeTLs expansionMuch of Dewjis wealth is tied to the success and expansion of MeTL Group, the conglomerate he leads, which operates across Tanzania, Kenya, Mozambique, and several other African countries. The company has faced rising costs of raw materials and energy due to global crises like Russias invasion of Ukraine, as well as geopolitical tensions and climate-related disruptions. Despite these challenges, MeTLs diversified operations across 11 countries have helped fuel Dewjis financial gains.
The latest surge in his net worth comes just weeks after he raised concerns about cybersecurity and the growing use of deepfake technology in financial scams. Hackers took over his X account on Feb. 5 to promote a fraudulent cryptocurrency token, misleading investors into pouring 1.48 million into the scheme within hours. According to blockchain analytics firm Lookonchain, the tokens market cap soared to 10.54 million in just 39 minutes before crashing below 125,000 by the time Dewji regained control of his account.
Tanzanias MeTL eyes global agricultural growthMeTL Group, Tanzanias largest private employer, has played a key role in Dewjis wealth expansion. Founded in the 1970s by his father, Gulamabbas Dewji, the company started as a small trading business before growing into an economic powerhouse under Dewjis leadership. Since he took over as CEO and President in 2005, MeTLs revenue has soared from 30 million to 2 billion, driven by product development, service expansion, and technological innovation.