Mohammed Dewji Invests $275 Million in Graphite Mining and Luxury Tourism

Tanzanian billionaire Mohammed “Mo” Dewji is making a bold strategic move into graphite mining and luxury tourism with a planned investment of approximately US$275 million, as his diversified conglomerate, MeTL Group, seeks to more than triple its annual revenue to US$10 billion by 2035.

The investment reflects Dewji’s long-term vision of positioning MeTL at the intersection of two rapidly growing global industries: the energy transition and premium tourism.

Graphite Investment Targets EV Battery Market

A significant portion of the investment will be directed towards developing graphite mining operations in Tanzania, capitalising on growing global demand for battery minerals used in electric vehicles (EVs).

Dewji said graphite production is expected to begin within the next 18 months from mining assets the company has already acquired.

The move comes as automakers and governments seek to diversify critical mineral supply chains beyond China, which currently dominates both graphite mining and processing.

MeTL is already engaging with potential European customers to determine product specifications, while company representatives are studying market opportunities in China to better understand global demand.

Industry analysts forecast that natural graphite demand will outpace supply during the early 2030s as electric vehicle production accelerates worldwide, creating opportunities for new producers.

Expanding Beyond Traditional Industries

The graphite venture forms part of a broader transformation strategy for MeTL Group, one of East Africa’s largest privately owned conglomerates.

Operating across 11 African countries and employing more than 40,000 people, MeTL manufactures over 50 product categories and has established businesses spanning agribusiness, food processing, manufacturing, financial services and logistics.

The diversification into mining is intended to strengthen the group’s presence in high-growth sectors linked to the global energy transition.

Luxury Tourism Investment Near Zanzibar

Alongside its mining expansion, MeTL is investing in Tanzania’s growing tourism industry.

Dewji has acquired a 150-hectare private island near Zanzibar and is in discussions with an international hospitality company to develop an ultra-luxury resort.

The project aims to capitalise on increasing global demand for exclusive travel experiences as Africa continues attracting investment into premium beach destinations, wildlife tourism and eco-luxury resorts.

The development is expected to complement Tanzania’s already strong tourism sector, which remains one of the country’s leading foreign exchange earners.

Building Long-Term Growth

Dewji believes Africa’s competitive advantage lies in developing industries based on the continent’s natural strengths.

By investing in both critical minerals and tourism, MeTL is positioning itself to benefit from long-term global trends, including the transition to clean energy and rising international demand for high-end travel destinations.

Diversifying into multiple growth sectors also reduces the group’s dependence on traditional manufacturing and consumer goods while creating new revenue streams.

Opportunities And Challenges Ahead

While the strategy offers significant growth potential, both projects present considerable execution challenges.

Developing commercial graphite mines within an 18-month timeframe will require successful project development, regulatory approvals and the establishment of supply agreements that meet the quality requirements of international battery manufacturers.

Similarly, constructing a luxury resort on a private island will involve substantial infrastructure investment, environmental planning and partnerships with established global hospitality brands.

A Vision for Africa’s Future

Widely recognised as East Africa’s only US-dollar billionaire, Mohammed Dewji has transformed the family business into one of the continent’s largest privately owned enterprises.

His latest investments demonstrate growing confidence in Africa’s ability to play a larger role in supplying critical minerals to the global clean energy economy while expanding its position as a world-class tourism destination.

If successful, the graphite and luxury tourism ventures will become important pillars in MeTL Group’s ambition to achieve US$10 billion in annual revenue by 2035, reinforcing the company’s position as one of Africa’s leading diversified businesse.