Despite reduced number of billionaires in Africa and size of their fortunes, Tanzanian’s richest man, Mohammed Dewji, has continued retaining his status– emerging the youngest billionaire in the continent.
Mr Dewji (41), having a $1.4bn wealth, outshines the other 20 billionaires in 6 countries: South Africa, Egypt, Nigeria, Morocco (which have three billionaires each), and Algeria (1 billionaire), Angola (1) as the youngest billionaire, well below the average age of 63 years, according to Forbes magazine.
“I plan to donate well above half my net worth to various organizations and individuals for philanthropic purposes, similar to what I have done thus far,” said Mr Dewji as he commented on this year’s ranking of Africa’s billionaires.
He continued: “If there’s only one thing we’re certain about is that life ends. All these material comforts that surround us are temporary accessories and this is why I decided a long time ago that I do not need any more personal wealth.”
The Chief Executive Officer (CEO) of the METL Group said he would ensure that all the current and future projects supported by his Mo Dewji Foundation would be aligned to his philanthropic vision of facilitating the development of a poverty-free Tanzania and a future where the possibilities, opportunities and dreams of Tanzanians are limitless.
He hopes that others will follow in his footsteps. “By signing this pledge, I hope to inspire my peers, fellow Africans and citizens of the world to take a close look at the funds they truly need to maintain their families versus their ability to give,” Dewji wrote in his Pledge letter, adding: “I’ll leave you with a few words I share with many of my comrades: ‘When God blesses you financially, don’t raise your standard of living. Raise your standard of GIVING.”