Tanzanian millionaire Mohammed Dewji Borrows $260M For Biz Expansion

[jerrytz]

Mohammed Dewji

Tanzanian business tycoon Mohammed Dewji has secured loans amounting to $260 million from a consortium of banks to support his METL conglomerate's expansion activities across Africa. Two weeks ago, Star Oils Limited, an energy distribution company owned by Dewji, and a subsidiary of METL Group, received a $60 million syndicated loan from Tanzania's National Bank of Commerce, Barclays Bank of Mauritius and ABSA. Star Oils owns and operates gas stations in the East African country, and is currently building a petroleum tank storage facility near the Dar es Salaam Port.

When completed, the facility will have a storage capacity of 68 million liters, for the storage of gasoline (petrol), gas oil (diesel) and kerosene. In an email statement, Dewji said the loan would help Star Oils to "boost its production and distribution capacity to fulfill demand in the East and Southern Africa market." In a related development, on Friday the investment banking arm of South Africa's FirstRand concluded the arrangement of a $200-million working capital facility for METL Group. Dewji told Forbes the loan will enable METL Group to ramp up its commodities trade in and out of East Africa and aid the group's manufacturing concerns. The $200-million facility, which is syndicated with both local and international financial institutions, is one of the largest loan facilities provided for the trading of commodities in East Africa.

The lending institutions that participated in the syndication include Citi Bank, Rabo Bank and Nedbank. "We want to create 100,000 direct jobs and build a $5-billion revenue business by 2017. That's our vision, and this new capital injection will facilitate our dream," Dewji said. One of Africa's wealthiest men, Dewji debuted in 2013 on FORBES' list of Africa's 50 Richest with a fortune we pegged at $500 million. A graduate of Georgetown University, he joined his father's trading business in 1999. At the time, it was a successful commodities trading house with a turnover of $26 million. Eager to expand the company's business beyond trading, Dewji borrowed heavily from his father and acquired two floundering businesses – a soap manufacturing plant and an edible oil refinery.

He transformed the businesses into market leaders in Tanzania and subsequently diversified into textiles, agriculture, logistics, financial services, real estate, grain milling, plastics, distribution and mobile telephony. Today, METL is one of the largest family-owned conglomerates in Tanzania with annual revenues of more than $1 billion and a presence in 11 countries in Africa.

Source: afkinsider

 

[OLESAIDIMU]

Such is a way!!!

 

[Muya Kamota]

BEHAVIORS THAT MAKES OTHERS RICH & OTHERSPOOR.



In hisbook, Secrets of Millionaires Mind, Eker lists seventeen ways in which the financial blueprints of the rich differ from those of the poor and the middle-class. According to him:

1. Richpeople believe: "I create my life."Poor people believe: "Life happens to me."
2. Richpeople play the money game to win.Poor people play the money game to not lose.
3. Richpeople are committed to being rich.Poor people want to be rich.
4. Richpeople think big. Poor people think small.
5. Richpeople focus on opportunities.Poor people focus on obstacles.
6. Richpeople admire other rich and successful people. Poor people resent rich and successful people.
7. Richpeople associate with positive, successful people. Poor people associate with negative or unsuccessful people.
8. Richpeople are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
9. Richpeople are bigger than their problems.Poor people are smaller than their problems.
10. Rich people are excellent receivers. Poor people are poor receivers.

11. Rich people choose to get paid based on results. Poor people choose to get paid based on time.
12. Rich people think "both".Poor people think "either/or".
13. Rich people focus on their net worth. Poor people focus on their working income.
14. Rich people manage their money well. Poor people mismanage their money well.
15. Rich people have their money work hard for them. Poor people work hard for their money.
16. Rich people act in spite of fear. Poor people let fear stop them.
17. Rich people constantly learn and grow. Poor people think they already know.

Addition
18. Rich people buy luxuries last, while the poor and middle class tendto buy luxuries first.

Recently,somebody pointed me to a similar book: The Top 10 Distinctions Between Millionaires andthe Middle Class by Keith Cameron Smith. I haven'thad a chance to read this yet (it's on my to-do list), but I glanced throughsome of it at Google books.Like Eker, Smith attempts to differentiate between the mindsets of the rich andthe rest of us.

5 of his 10 distinctions are:

1. Millionairestake calculated risks. Themiddle class is afraid to take risks.
2. Millionairescontinually learn and grow. Themiddle class thinks learning ended with school.
3. Millionaireswork for profits. The middle class works for wages.
4. Millionaireshave multiple sources of income.The middle class has only one or two.
5. Millionairesfocus on increasing their wealth.The middle class focuses on increasing its paychecks.

Publishedon - November 1st, 2011 (by J.D. Roth)

http://www.getrichslowly.org/blog/2011/11/01/what-are-the-differences-between-the-rich-and-the-poor/

 

[Kabembe]

So he want to create 100,000 direct jobs of which half of them will be for India and Pakistan.

 

[Abra One]

Kasababisha mradi wa gesi Lindi maeneo ya kikwetu uwanja wa ndege na mitwero kusimama... Kisa eneo ni la kwake...

 

[SSH2025_2030]

kudos Mhe. Dewji, MP tumia fursa sisi tubaki kulia lia tu ooh JK mara CCM we piga pesa

 

[Bravo Mike]

So he want to create 100,000 direct jobs of which half of them will be for India and Pakistan.

Based on your assessment, about 50,000 Tanzanians will be employed, say thanks to him..

 

[Kibanga Ampiga Mkoloni]

Tanzanian business tycoon Mohammed Dewji has secured loans amounting to $260 million from a consortium of banks to support his METL conglomerate’s expansion activities across Africa.

Two weeks ago, Star Oils Limited, an energy distribution company owned by Dewji, and a subsidiary of METL Group, received a $60 million syndicated loan from Tanzania’s National Bank of Commerce,

Barclays Bank of Mauritius and ABSA. Star Oils owns and operates gas stations in the East African country, and is currently building a petroleum tank storage facility near the Dar es Salaam Port. When completed, the facility will have a storage capacity of 68 million liters, for the storage of gasoline (petrol), gas oil (diesel) and kerosene.

In an email statement, Dewji said the loan would help Star Oils to “boost its production and distribution capacity to fulfill demand in the East and Southern Africa market.” In a related development, on Friday the investment banking arm of South Africa’s FirstRand concluded the arrangement of a $200-million working capital facility for METL Group.

Dewji told Forbes the loan will enable METL Group to ramp up its commodities trade in and out of East Africa and aid the group’s manufacturing concerns.

The $200-million facility, which is syndicated with both local and international financial institutions, is one of the largest loan facilities provided for the trading of commodities in East Africa. The lending institutions that participated in the syndication include Citi Bank, Rabo Bank and Nedbank. “We want to create 100,000 direct jobs and build a $5-billion revenue business by 2017.

That’s our vision, and this new capital injection will facilitate our dream,” Dewji said. One of Africa’s wealthiest men, Dewji debuted in 2013 on FORBES’ list of Africa’s 50 Richest with a fortune we pegged at $500 million. A graduate of Georgetown University, he joined his father’s trading business in 1999.

At the time, it was a successful commodities trading house with a turnover of $26 million. Eager to expand the company’s business beyond trading, Dewji borrowed heavily from his father and acquired two floundering businesses – a soap manufacturing plant and an edible oil refinery. He transformed the businesses into market leaders in Tanzania and subsequently diversified into textiles, agriculture, logistics, financial services, real estate, grain milling, plastics, distribution and mobile telephony.

Today, METL is one of the largest family-owned conglomerates in Tanzania with annual revenues of more than $1 billion and a presence in 11 countries in Africa. -

See more at: Tanzanian Millionaire-Mohammed Dewji Borrows $260M For Biz Expansion | AFKInsider​

 

[Money Stunna]

Hii ni habari njema

 

[AL SHARPTON]

$260 million loan is news in Africa??? Ha ha ha
I thought $260 billion. No wonder we are 3rd world

 

[king of zemunda2]

Dogo yupo vzri sn na anatoa ajira nyingi sn big ip

 

[crabat]

Hii kampuni itarajie matatizo , ni mikopo kila siku na nina was was na ukipaji katika mabenki ya ndani. Hizo biashara za bidhaa za ndani ni wizi mtupu na ukwepaji kodi , anaitumia bakwata kuleta bidhaa kama za mayatima bila ya ushuru na kuziuza kwenye soko
Ni kampuni yenye mikopo mingi katika mabenki na inaendedhwa kiujanja , hata hio kuwa tajiri wa forbes ni feki tu , huwezi kuwa na deni la $900m na huku una utajiri wa asssets $500m ukawa ndio tajiri TAnzania , hili gazeti ni kwa ajili ya afrika na corruption zao mbona BAkhressa hujawahi kumwona akijiramba ramba na gazeti hilo.

 

[LorenzoA]

Hawa ndio watu tunaowahitaji kwenye tifa masikini kama hili, watu porojo kila kona...Faiza Foxy anaitaga kubwabwaja.......Vizuri sana Dewji, Go make it happen brother!

 

[Amalinze]

Safi Mo chapa kazi.

 

[dudus]

Duh! Storage capacity of 68,000,000Ltrs. Yaani huyu bei ya mafuta ikishtuka kidogo tu kwa 100Tshs say, tayari ana profit ya 6.8bn/- kwa mshtuko huo. No wonder hawa jamaa wanayumbisha soko makusudi.

 

[Easyway]

Anastahili sifa, MO ni kichwa, watanzania weusi nasi tuache kuajiriwa.

 

[Easyway]

Hawa Wafanyabiashara Wakubwa waanze kuwekeza kwenye reli hizo bidhaa badala ya kusafirisha Kwa barabara Wangekuwa wanasafirisha kwa reli.

 

[cyrustheemperor]

Jamani nielewesheni hapo kama chenga mnasema kakopa milioni 200 na ushee au mabilioni wachumi hivi kuna uwiano na achano sanifu hapo mbona....?

 

[BONGOLALA]

Nyumbani kwangu hakuna bidhaa hata moja ya METL ninayotumia,quality ni mbovu sana!METL inaongoza kwa madeni ktk benki kama stanbic na wafanyakazi wake ni wezi sana hiyo mikopo mwisho wake utakua mbaya sana!Hajajipanga kibiashara kama BAkHRESA,kwa sasa ving'amuzi tuu vya Azam vinauzwa kila kona kwa wingi sana,METL biashara nyingi zisizokua na umakini

 

[DeletedMember281674]

Tanzanian business tycoon Mohammed Dewji has secured loans amounting to $260 million from a consortium of banks to support his METL conglomerate’s expansion activities across Africa.

Two weeks ago, Star Oils Limited, an energy distribution company owned by Dewji, and a subsidiary of METL Group, received a $60 million syndicated loan from Tanzania’s National Bank of Commerce,

Barclays Bank of Mauritius and ABSA. Star Oils owns and operates gas stations in the East African country, and is currently building a petroleum tank storage facility near the Dar es Salaam Port. When completed, the facility will have a storage capacity of 68 million liters, for the storage of gasoline (petrol), gas oil (diesel) and kerosene.

In an email statement, Dewji said the loan would help Star Oils to “boost its production and distribution capacity to fulfill demand in the East and Southern Africa market.” In a related development, on Friday the investment banking arm of South Africa’s FirstRand concluded the arrangement of a $200-million working capital facility for METL Group.

Dewji told Forbes the loan will enable METL Group to ramp up its commodities trade in and out of East Africa and aid the group’s manufacturing concerns.

The $200-million facility, which is syndicated with both local and international financial institutions, is one of the largest loan facilities provided for the trading of commodities in East Africa. The lending institutions that participated in the syndication include Citi Bank, Rabo Bank and Nedbank. “We want to create 100,000 direct jobs and build a $5-billion revenue business by 2017.

That’s our vision, and this new capital injection will facilitate our dream,” Dewji said. One of Africa’s wealthiest men, Dewji debuted in 2013 on FORBES’ list of Africa’s 50 Richest with a fortune we pegged at $500 million. A graduate of Georgetown University, he joined his father’s trading business in 1999.

At the time, it was a successful commodities trading house with a turnover of $26 million. Eager to expand the company’s business beyond trading, Dewji borrowed heavily from his father and acquired two floundering businesses – a soap manufacturing plant and an edible oil refinery. He transformed the businesses into market leaders in Tanzania and subsequently diversified into textiles, agriculture, logistics, financial services, real estate, grain milling, plastics, distribution and mobile telephony.

Today, METL is one of the largest family-owned conglomerates in Tanzania with annual revenues of more than $1 billion and a presence in 11 countries in Africa. -

See more at: Tanzanian Millionaire-Mohammed Dewji Borrows $260M For Biz Expansion | AFKInsider​

I wish my parents would be business people, so that I could borrow capital from them and expand their business activities...! BTW their peasants...!