Tanzanian billionaire sees business booming under new president

[Geza Ulole]

Tanzanian billionaire sees business booming under new president​

David Malingha
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Tanzania's new president Samia Hassan Suluhu (L) and the late former president of Tanzania John Magufuli (C) speaking with Kenya's President Uhuru Kenyatta on the phone at the State House in Dar es Salaam, Tanzania, on July 24, 2019.
(Photo by ERICKY BONIPHACE/AFP via Getty Images)

Private business in Tanzania is set to expand rapidly as President Samia Hassan moves to reassure investors and improve the nation’s operating environment, according to billionaire Mohammed Dewji.

Dewji expects MeTL, the industrial conglomerate he owns, to ramp up sisal output as it targets becoming the world’s largest producer of the fiber-yielding plant that’s used to make rope, paper and carpets. MeTL accounts for 35% of the East African nation’s output, according to information on its website.

Dewji joins other investors, including Africa’s richest man Aliko Dangote, in hailing the president’s determination to spur business. Hassan assumed office in March after the death of ex-President John Magufuli, who was credited with ramping up government spending on railways, ports, roads, power and health centers -- but criticized for stifling private investment.

"I think our new president just wants to create a conducive environment so that we invest, we create jobs, and we pay taxes," Dewji said in an interview at the Qatar Economic Forum.

"Infrastructure projects are going to continue. But in the past the government was more involved in trying to do business."

Dewji, whose net worth is estimated at $1.6 billion by Forbes, is the chief executive officer of MeTL. The group, with about 31 000 workers, has operations in textiles, sisal, flour milling, beverages and edible oils in southern and central Africa. MeTL forecasts its sisal output will jump about 20% to 12 000 tons next year.

Investors have improved their outlook on Tanzania since Hassan took over and directed her administration to fast-track delayed investments. They include a $30 billion liquefied natural gas project involving Equinor ASA, and a $3 billion joint venture with a Chinese company to develop an iron-ore and coal mine.

Tanzania, like the rest of Africa, has opportunities in industries including agriculture, minerals and infrastructure that investors will find lucrative, Dewji said. "What Africa needs is capital, and there are numerous opportunities," he said.

Tanzanian billionaire sees business booming under new president | Business

Private business in Tanzania is set to expand rapidly as President Samia Hassan moves to reassure investors and improve the nation’s operating environment, according to billionaire Mohammed Dewji.

www.news24.com

 

[Tony254]

Tanzanian billionaire sees business booming under new president​

David Malingha
SHARE

Tanzania's new president Samia Hassan Suluhu (L) and the late former president of Tanzania John Magufuli (C) speaking with Kenya's President Uhuru Kenyatta on the phone at the State House in Dar es Salaam, Tanzania, on July 24, 2019.
(Photo by ERICKY BONIPHACE/AFP via Getty Images)

Private business in Tanzania is set to expand rapidly as President Samia Hassan moves to reassure investors and improve the nation’s operating environment, according to billionaire Mohammed Dewji.

Dewji expects MeTL, the industrial conglomerate he owns, to ramp up sisal output as it targets becoming the world’s largest producer of the fiber-yielding plant that’s used to make rope, paper and carpets. MeTL accounts for 35% of the East African nation’s output, according to information on its website.

Dewji joins other investors, including Africa’s richest man Aliko Dangote, in hailing the president’s determination to spur business. Hassan assumed office in March after the death of ex-President John Magufuli, who was credited with ramping up government spending on railways, ports, roads, power and health centers -- but criticized for stifling private investment.

"I think our new president just wants to create a conducive environment so that we invest, we create jobs, and we pay taxes," Dewji said in an interview at the Qatar Economic Forum.

"Infrastructure projects are going to continue. But in the past the government was more involved in trying to do business."

Dewji, whose net worth is estimated at $1.6 billion by Forbes, is the chief executive officer of MeTL. The group, with about 31 000 workers, has operations in textiles, sisal, flour milling, beverages and edible oils in southern and central Africa. MeTL forecasts its sisal output will jump about 20% to 12 000 tons next year.

Investors have improved their outlook on Tanzania since Hassan took over and directed her administration to fast-track delayed investments. They include a $30 billion liquefied natural gas project involving Equinor ASA, and a $3 billion joint venture with a Chinese company to develop an iron-ore and coal mine.

Tanzania, like the rest of Africa, has opportunities in industries including agriculture, minerals and infrastructure that investors will find lucrative, Dewji said. "What Africa needs is capital, and there are numerous opportunities," he said.

Tanzanian billionaire sees business booming under new president | Business

Private business in Tanzania is set to expand rapidly as President Samia Hassan moves to reassure investors and improve the nation’s operating environment, according to billionaire Mohammed Dewji.

www.news24.com

Good to see mama Samia improving the business environment in Tanzania. This will attract more investments and hence lead to more economic development.

 

[muyovozi]

Bado mzunguko wa hela ni mgumu kuliko hata kipindi cha JPM. AU nasea uongo wajameni.

 

[Tony254]

Bado mzunguko wa hela ni mgumu kuliko hata kipindi cha JPM. AU nasea uongo wajameni.

Umetumia data gani? Leta Bank of Tanzania data inayosema kwamba mzunguko wa pesa umepungua katika kipindi cha SSH. Usilete story za vijiweni, kuja na data.

 

[Kichwa Kichafu]

Let the time speak!

 

[Justinr]

Bado mzunguko wa hela ni mgumu kuliko hata kipindi cha JPM. AU nasea uongo wajameni.

Icho kitu nimeanza kuki feel ..ila nadhani nivile mwenda zake alikuwa akizindua sana miradi kiasi kwamba ilikuwa kama haiumizi sana...sababu imani ya kuiboresha nchi ilionekana...saivi nikama imani ya miradi kuisha imeporomoka mnoo kitu kinacho fanya watu wazidi kuona maumivu yasiyo na positive output

 

[Danpol]

Icho kitu nimeanza kuki feel ..ila nadhani nivile mwenda zake alikuwa akizindua sana miradi kiasi kwamba ilikuwa kama haiumizi sana...sababu imani ya kuiboresha nchi ilionekana...saivi nikama imani ya miradi kuisha imeporomoka mnoo kitu kinacho fanya watu wazidi kuona maumivu yasiyo na positive output

Huu ujinga ulio andika hapa , unaweza shika namba moja kwa leo humu ndani , sidhan kama kuna mtu anazidi huu ujinga kwa leo

 

[uhurumoja]

Tunahitaji wawekezaji wengi kutoka nje walete pesa + ajira na Mungu asaidie balaa la corona liishe utalii ufunguke tuongeze pesa kwenye mzunguko.

Dah hiyo miradi ya reli na bwawa la umeme inakula pesa sana.

Budget yake inaanza mwishoni mwa mwezi huu ndani ya miaka yake minne watu watanunua sana magari na kujenga nyumba uchumi wa mtu mmoja mmoja utakuwa mkubwa sana maana budget iko na recurrent kubwa zaidi kuliko capital kwa jiji la dar magari yatakuwa mengi mno na ajira itakuwa kubwa sana huyu mama Mungu ambariki sana

 

[Zigi Rizla]

Budget yake inaanza mwishoni mwa mwezi huu ndani ya miaka yake minne watu watanunua sana magari na kujenga nyumba uchumi wa mtu mmoja mmoja utakuwa mkubwa sana maana budget iko na recurrent kubwa zaidi kuliko capital kwa jiji la dar magari yatakuwa mengi mno na ajira itakuwa kubwa sana huyu mama Mungu ambariki sana

You are an open minded Tanzanian

 

[Bon-CN]

Icho kitu nimeanza kuki feel ..ila nadhani nivile mwenda zake alikuwa akizindua sana miradi kiasi kwamba ilikuwa kama haiumizi sana...sababu imani ya kuiboresha nchi ilionekana...saivi nikama imani ya miradi kuisha imeporomoka mnoo kitu kinacho fanya watu wazidi kuona maumivu yasiyo na positive output

MATAGA ndio wanaona hayo maumivu kwa sababu enzi za Jiwe, kwao kila kitu kilikuwa "hewala bwana" hata kama kilichofanyika ni kwa mama zao wazazi kupigwa makofi.

 

[Opportunity Cost]

Good to see mama Samia improving the business environment in Tanzania. This will attract more investments and hence lead to more economic development.

Nimemsikia PM anasema wamesajili miradi ya zaidi ya dola za.marekani 1bln ndani ya siku 100 za mama ikiwa ni ishara ya confidence ya wawekezaji na kupungua kwa urasimu.

So hadi mwaka kuisha Tzn itarudi kwenye viwango vyake vya ukuaji uchumi wa 7% japo bado kuna Kazi ya kufanya.

Mathalani tunatakiwa kuwa na likizo ya msamaha wa kodi inayoeleweka na kushawishi mwekezaji kufanya decision sio hii ya kusema eti tunafuta au kupunguza tozo kwa mwaka 1,ni useless.

Pia serikali isiogope kukopa pesa nje ya nchi badala ya ndani Ili kuchochea liquidity na kuacha kuwa na sera za contractionary kwenye uchumi dhaifu mfano hii ya kushikilia inflation kwenye 3-5 haifai ,lazima tuhame hapo angalau iwe 5-7

 

[Opportunity Cost]

Bado mzunguko wa hela ni mgumu kuliko hata kipindi cha JPM. AU nasea uongo wajameni.

Nyingi ya sera hazikabadilika,Mwigulu ni conservative Sana ile wizara angeshika Kimei ametoka kwenye biashara anajua cha kufanya

 

[Opportunity Cost]

Umetumia data gani? Leta Bank of Tanzania data inayosema kwamba mzunguko wa pesa umepungua katika kipindi cha SSH. Usilete story za vijiweni, kuja na data.

Labda kama ulipungua kwenye robo ya mwisho kutokana na wasiwasi wa mabadiliko ya kisiasa but robo hii ya kwanza ya mwaka ukwasi utaongezeka.

Maza kaajiri wafanyakazi wapya zaidi ya 6,000,, kaanza kuwalipa madeni yao ya kupandishwa madaraja mwezi huu unaoisha na miradi mingi midogo midogo kwenye Halmashauri imeongezeka so by October mambo yatakuwa mazuri

 

[Chamoto]

Uchumi wa nchi huendeshwa na wafanyabiashara wadogo na wakati, kama hao hawapewi kipaumbel, middle class hakuna na bila ya kundi hilo kuwepo hamna uchumi.

 

[Mokaze]

Good to see mama Samia improving the business environment in Tanzania. This will attract more investments and hence lead to more economic development.

To be specific --- More economic development to Kenya as well.