Weeks after crypto scam, Tanzania’s richest man Mohammed Dewji hits $2.2 billion net worth

Key Points

• Tanzania’s richest man, Mohammed Dewji, has gained $400 million this year, despite a cyberattack that hijacked his X account to promote a fraudulent crypto token.
• Dewji’s wealth surge is tied to MeTL Group’s 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 Tanzania’s agricultural exports.

More than four weeks after hackers hijacked his X account to promote a cryptocurrency token bearing Tanzania’s name, the country’s 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 Africa’s richest individuals.

According to Forbes, which tracks the fortunes of the world’s wealthiest people, Dewji remains East Africa’s 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.

Dewji’s wealth rises amid MeTL’s expansion

Much of Dewji’s 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 Russia’s invasion of Ukraine, as well as geopolitical tensions and climate-related disruptions. Despite these challenges, MeTL’s diversified operations across 11 countries have helped fuel Dewji’s 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 token’s 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.

Tanzania’s MeTL eyes global agricultural growth

MeTL Group, Tanzania’s largest private employer, has played a key role in Dewji’s 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 Dewji’s leadership. Since he took over as CEO and President in 2005, MeTL’s revenue has soared from $30 million to $2 billion, driven by product development, service expansion, and technological innovation.

Looking ahead, Dewji has laid out an ambitious $150-million investment plan to expand MeTL’s agricultural and regional footprint. Of that, $50 million is earmarked for developing thousands of hectares of hybrid tea plantations to strengthen Tanzania’s tea exports. He also aims to list an agricultural subsidiary worth up to $4 billion on either the New York or London stock exchanges, tapping into funding from international development banks.