One of Tanzania’s biggest manufacturing and trading firm, Mohammed Enterprises Tanzania Ltd plans to invest $250 million to expand its business in Zambia, Mozambique, Rwanda, Burundi, Madagascar and Ethiopia.
“We want to expand our presence in Africa to capitalize on a growing middle class demand. The focus for investment would be in manufacturing, particularly cotton,” company’s Chief Executive Officer, Mohammed Dewji said.
“Our vision is that by 2020/21, we want to be a $5 billion revenue company,” he said. Revenue was expected to reach $1.9 billion in 2014/15.
Regarding plans to invest $250 million over two years, Dewji said: “Half of this … will be our equity and the other half will be raised through banks.”
The company operates in 11 African nations, mostly in East Africa, including Kenya and Uganda, as well central and southern states such as the Democratic Republic of Congo and Mozambique.
Established in the 1970s, the firm has more than 30 factories making consumer products ranging from bicycles and detergents to edible oil and beverages.
Other investments cover the agriculture, infrastructure, energy and mobile phone sectors. METL employs 24,000 mostly in Tanzania.
Dewji said he expected this to rise to more than 100,000 in five years.
When is our Mulungushi Textiles becoming operational? Too much talking and promises from bogus investors.
Cost of production in Zambia is simply too high especially for textile when you have China and Vietnam churning out good quality textile from modern machinery at quarter of the cost to customer specification…look around you even in the US and Europe all textile factories are closed down and manufacturing is outsourced to China and Far East; most factories are now high-priced loft converted flats.
If I was at all going to invest in Mulungushi textile I would want GRZ to give me all contracts for Zambia Army uniforms and the ZP, ask for them to pay me on time and propose a new uniform for ZP to guarantee revenue.
There products are cheaply made, ask anyone who has lived in TZ they will tell you. They even sale dirty water in plastic sachets
Dewji and Co are a big fish bwana, no bogus. While others like GBM are politically frustrated and boasting about their unpatriotic moving investment out of Zambia , we should appreciate that someone is willing to bring theirs in
Isn’t this the company that bought Mulungushi Textiles only to be using it as a centrally located strategic warehouse…the talk of investing so and so millions yet they can not be specific; they are simply looking for markets for their products from Tz nothing tangible here.
There products are cheaply made, ask anyone who has lived in TZ they will tell you. They even sale dirty water in plastic sachets
We don’t need such kind of investments especially from such religious groupings. This will only grow the Muslim population and increase the possibilities of having extremists. No plz Zambians soaps and edible oils we can make, we can spin cotton etc. Perhaps if it was high tech, advanced technology we can agree but plz people believe me that’s not the kind of investments we need in Zambia
DON’T WE MAKE SOAPS AND EDIBLE OILS IN ZAMBIA? WHAT IS SO SPECIAL WITH THE ONE FROM DEWJI? MAYBE BICYCLES AS BA NSAMYA IN CHIPATA HAVE FAILED TO MAKE REAL MODERN BICYCLES TO CAPTURE THE EXPORT MARKETS IN THE SADC AREA. OR IS IT BECAUSE LUSAKA HAS ALREADY EATEN THIS MAN’S MONEY? GUYS, LET’S CHOOSE WHAT TO INVITE INTO ZAMBIA. IF THEY HAD SAID MANUFACTURE POWER TOOLS, PLANT AND MACHINERY THAT WOULD HAVE BEEN A REAL DEAL FOR OUR COPPER.
METL is useless, they’ve failed to develop Mulungushi textiles
For as long as political hegemony’s dominnce over our economy is not abetted this will continue. We have a lot of local money gurus who can revive mulungushi but they have stashed their money in offshore accounts scared of investing in zed because it will just take one jealous politician to accuse them of belonging to some party & their money will be gone.