Tanzanian billionaire Mohammed Dewji is poised to invest Sh6.5 billion in a new soft drink manufacturing plant in Mombasa. This initiative signifies a significant expansion of his business activities within Kenya’s thriving beverage sector.
According to Business Daily, the investment, managed through MeTL Group, will kick off with the construction of a carbonated drink facility slated to begin within the next year. This endeavor marks the company’s first substantial industrial project in Kenya, reflecting a growing interest among Tanzanian investors in the Kenyan economy.
Upon completion, the plant will produce MeTL’s signature beverages, including Mo Cola, Mo Xtra, and Mo Malto, which have become well-known in Tanzania for their affordability in a market often dominated by international brands.
Mo Cola, named after Mohammed Dewji—the chief executive of MeTL Group and recognized by Forbes as East Africa’s wealthiest individual—plays a pivotal role in the company’s strategy of appealing to price-sensitive consumers by providing budget-friendly alternatives to established global soft drink companies.
Dewji mentioned that the company is presently in the planning phase but anticipates rapid progress once preparations are finalized.
“I’m setting up a plant in Uganda, and I have land in Mombasa now, and I’m looking into establishing a carbonated soft drink plant,” Mr. Dewji stated in an interview with the Business Daily on Wednesday.
“We are currently at the drawing board, but we believe that it is highly feasible that within 12 months, we may be able to commence construction,” added the tycoon, who was in Nairobi for the Africa Forward Summit.
The billionaire highlighted that Kenya remains a pivotal investment location due to its extensive economy and strategic position in the region. In addition to beverages, he is exploring opportunities in the energy and hospitality sectors as part of MeTL Group’s comprehensive expansion strategy.
Mr. Dewji leads Mohammed Enterprises Tanzania Limited (MeTL) Group, one of Tanzania’s largest conglomerates, which caters to the diverse needs of the Tanzanian populace with an array of products ranging from sugar and spaghetti to fuel and stationery.
Key Takeaways
- Mohammed Dewji is investing Sh6.5 billion in a soft drink plant in Mombasa.
- The new facility will be MeTL Group’s first major industrial project in Kenya.
- It will produce popular beverages like Mo Cola, Mo Xtra, and Mo Malto.
- The investment aims to provide affordable alternatives to dominant international brands.
- Kenya is seen as a key investment destination for various sectors, including energy and hospitality.
FAQ
What is the purpose of the new soft drink plant in Mombasa?
The plant aims to produce affordable beverages for the Kenyan market, expanding MeTL Group’s presence in the region.
What beverages will be produced at the plant?
The facility will manufacture Mo Cola, Mo Xtra, and Mo Malto, which are well-received in Tanzania.
When is construction expected to begin?
Construction is anticipated to start within the next year, pending completion of planning.
Why is Kenya an attractive investment location for Dewji?
Kenya’s large economy and strategic position in the region make it appealing for investment across various sectors.
Mohammed Dewji’s plans for the new manufacturing plant underline his commitment to expanding MeTL Group while catering to a growing market in Kenya. This venture could reshape the competitive landscape of soft drinks in the region and reflects the increasing influence of Tanzanian businesses in neighboring countries.
