In response to Magufuli’s call for job creation and manufacturing, Tanzania’s richest man, Mohammed Dewji has mapped out plans to create 100, 000 jobs in Tanzania.
Under the young administration of President John Magufuli, Tanzania has become the 5th fastest growing economy in Africa.
Making this feat worth the while, the youngest billionaire in Africa, Mohammed Dewji is set to create 100,000 jobs to match the nation’s latest economic status.
Magufuli who is passionate about improving the manufacturing sector assured Tanzanian manufacturers that his administration will support their efforts.
The president has a target to see to an increase of the nation’s GDP by 15% from the manufacturing sector. He wants the sector to account for 40 percent of all new jobs by 2020.
Magufuli made this known during the annual President’s Manufacturer of the Year Awards (PMAYA) in Dar es Salaam, last week.
On that note billionaire and business man, who won several awards during the occasion for being the largest private employer in Tanzania, vowed to make thousands of jobs available for Tanzanians over the next few years.
“I am going to invest more than $500 million over the next 4 years to employ over 100,000 people across Africa by 2021 with a significant majority of those jobs coming to Tanzanians.”
Mohammed Dewji runs a privately owned conglomerate – METL Group. The business mogul turned the typical national trading business, previously run by his father into a money spinning enterprise.
See Also: Top 10 Power Family Businesses In Africa
METL group of companies have interests in textile, manufacturing, distribution, real estate and agriculture. Mohammed invested in the privatization of Government textile and soap companies. Already Dewji is an employer of about 28, 000 workers.
MeTL Group is currently undergoing several growth and expansion projects. The super-wealthy political enthusiast has plans to venture into a range of diversified projects with the most popular one, the sugar project.
The Sugar project which will cost about $280,000 will provide about 5000 jobs. It will also contribute to electricity and ethanol production.
“This project will not only change the livelihoods of the future employees and surrounding communities, but will significantly change the competitive landscape for sugar in the country, with the aim of making local sugar affordable and accessible to Tanzanians.”- Dewji.