Tanzanian conglomerate Mohammed Enterprises Tanzania Limited (MeTL) plans to invest USD250 million in Mozambique and create about 20,000 jobs, its chief executive Mohammed Dewji said earlier this week, as the company explores opportunities to expand its operations in the country.
Dewji made the announcement after meeting Mozambican President Daniel Chapo, saying the discussions had identified concrete investment opportunities for the Tanzanian group.
“We had a very fruitful discussion and committed to investing USD250 million in Mozambique and trying to employ 20,000 Mozambicans,” Dewji said.
MeTL is one of Tanzania’s largest privately owned business groups, with operations spanning agriculture, manufacturing, logistics, energy, trade and financial services.
The planned investment will deepen the company’s presence in Mozambique while supporting the government’s efforts to attract private capital, expand industrial activity and create employment.
The Mozambican Presidency said the investment commitment was in line with MeTL’s diversified business profile and will open opportunities in strategic sectors of the economy.
It said the expansion will also contribute to the development of new production, distribution and service-delivery chains in Mozambique, potentially strengthening links between local businesses and regional markets.
“The meeting takes place in a context of seeking greater mobilisation of private investment to drive economic growth, industrialisation and job creation in Mozambique,” Chapo said.
The talks also come as Mozambique seeks to deepen economic cooperation with countries in the Southern African region and attract investment to support broader economic development.
MeTL currently employs about 37,000 people and operates in more than a dozen African markets, including Mozambique.
The company’s planned investment will therefore build on an existing presence in Mozambique while potentially expanding its activities across multiple sectors.
The announcement comes as African economies seek to increase intra-regional trade and investment, with governments looking to private companies to support industrialisation, job creation and the development of local value chains.
For Mozambique, the proposed investment will provide additional private-sector capital and employment opportunities while supporting the expansion of domestic production and distribution networks.
For MeTL, the move will strengthen its regional footprint and provide opportunities to expand its diversified business model in one of Southern Africa’s key markets.
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