The Youngest Billionaire in South Africa Mohammed Dewji is a cornerstone of inspiration. They remain regarded to be important in the world due to their viewpoints and innovation. Their minds bring ground breaking concepts and leave a long lasting impression on society.
Who is Mohammed Dewji the Youngest Billionaire in South Africa?
Mohammed Dewji is the CEO of METL which is a conglomerate founded in Tanzania by his father during the 1970s. It was in October 2022 that Mohammed Dewji the Youngest Billionaire in South Africa. The estimated networth of this young man is US$1.5 billion which makes him the 17th richest person in the world.
According to Forbes youngest billionaires METL is a textile manufacturing company also including beverages, edible oils and flour milling. In addition to what it does, his company has branches over 10 African Countries such as Uganda, Ethiopia and Kenya.
Mohammed Dewji is not only the youngest billionaire; he is the only one in Tanzania. What is astonishing about this character is his philanthropic work. At least half of his fortunes donated to such causes that aid the needy.
His life lessons and experiences further serves to be an inspiration to some. These include when he was kidnapped at gun point in October 2018 Dar es Salaam, Tanzania. He was only released after nine days.
Mohammed Dewji in Business and Politics
Dewji aspired to carry out his grandmothers business the moment graduated University assuming the management position at Mohammed Enterprises Tanzania Limited (MeTL). It was a commodities trading business that he first got his employment in which served him to have a string foundation.
He worked there for over 2 years when he became the chief financial officer (CFO) at MeTL. However, his journey was not without challenges. The government of Tanzania privatised loss-making companies during the early 2000s.
Dewji presently the youngest billionaire at the time converted them into centers for profit by cutting down personal expenses. Today his group of MeTL companies is among one of the largest private companies in his country.
Over the last few decades from 1999 – 2018 Dewji have heightened the revenues of MeT; from $30 million to over $1.5 billion. The company has now expanded their investments to other sectors such as:
- Manufacturing
- Agriculture
- Trading
- Finance
- mobile telephony
- insurance
- real estate
- transport and logistics
- food and beverages
In regards to his political career, during the October 2005 multi-party elections, he ran for the parliament election seat. He was selected by the CCM to be a candidate for Singida Urban willing over 90% of the votes. He was sworn in as a MP on December 29th 2005. Towards his later years, he resigned from politics and focused only on the business world.
Top 10 Billionaires in South Africa
Mohammed Dewji is The Youngest Billionaire in South Africa and is among the top 10 youngest billionaire in the world. In Africa young billionaires have a long way to go and it’s not easy to make it to the top.
Many billionaires in South Africa consist of middle aged men which leave for a generational gap. This is a wide gap between young people who look forward to walking in their footsteps and among the middle aged men.
Here is a list of some of the youngest billionaire sin Africa starting with the youngest by age.
- Mohammed Dewji
- Patrice Motsepe
- Nassef Sawiris
- Strive Masiyiwa
- Aziz Akhannouch
- Yasseen Mansour
- Abdulsamad Rabiu
- Aliko Dangote
- Naguib Sawiris
- Mike Adenuga
Conclusion
Mohammed Dewji stands to be an inspiring figure with constant hunger for success and growth. He serves to be an example for many young mind sin South Africa and beyond. He is the epitome of overcoming challenges and diving away obstacles from one’s own path.
Key Points
- Mohammed Dewji is the youngest billionaire in South Africa, with a net worth of $1.5 billion, making him the 17th richest person globally.
- Dewji is the CEO of METL, a conglomerate based in Tanzania, operating in over 10 African countries across industries like manufacturing, agriculture, and real estate.
- Half of Dewji’s fortune is donated to philanthropic causes, highlighting his commitment to aiding the needy.
- In 2018, Dewji was kidnapped in Tanzania and released after nine days, further adding to his inspirational story.
- Dewji served as a Member of Parliament from 2005 to 2015 before leaving politics to focus entirely on his business ventures.
FAQs
Who is the richest family in SA?
Johann Rupert & family is the richest in South Africa carrying net worth of 10.33 billion.
Who is the richest person born in South Africa?
Johann Rupert luxury goods and also Nicky Oppenheimer a diamond magnate areamong the richest born in South Africa.
Who is the black billionaire in South Africa?
Patrice Tlhopane Motsepe was the first black billionaire in South Africa. He is a business man born on January 28 1962.
Who is the richest woman in South Africa?
Wendy Appelbaum. She is a successful businesswoman and is the riches among women in South Africa. She has a net worth of 79 billion.
