Tanzania’s business tycoon, Mohammed Dewji has heaped praise on President Samia Suluhu Hassan, saying the Head of State was undertaking policies that were changing Tanzania’s investment climate, a complete shift from the stagnation of some past year that was precipitated by the Covid-19 pandemic.

Speaking during a CNN Interview – the video of which was circulated on Twitter yesterday – Mr Mohammed Dewji aka MO said that Tanzania may have stagnated on investment in the past but the fundamentals are very good.

He further said that as far as business is concerned, Tanzania did not go into lockdowns so the country continued with manufacturing and thus manufacturers continued to thrive.

MO underscored that with ongoing improvements, Tanzania’s growth must soon rise to between six and seven per cent.

He noted that local beverage manufacturers like himself were currently giving multinationals a run for their money.

MeTL’s beverage line manufactures a number of products including Mo Cola, Mo Xtra and Mo Embe among others which Mo says was one of the best businesses for Africa.

MO told a forum that was hosted by Rally Madowo and Eleni Giokos that Africa is big in fast moving consumer goods.

“Usually, in the past, multinationals – like Coca-Cola and others – used to dominate that space and now we are taking them head-on. We are manufacturing locally and creating our own brands,” he said

Asked about the influence of China in Africa’s effort to grow its manufacturing sector, Mo said the continent was in the past facing issues in terms of power and bureaucracy among others.

“With a rise in population – Africa was geared up to creating a good investment policy for Foreign Direct Investment to come and invest and create jobs and stability,” he said.

He added: “They are now investing heavily in infrastructure, road network, rail network and power sector. I think we will become very competitive and Africa is a very good place.”

On agriculture, Tanzania’s Business Tycoon said his company has invested about $100 million in the sisal industry as it seeks to become the single largest sisal producer in the world by the end of 2022.

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