After studying at Georgetown University in the United States, Mohammed Dewji first worked as a trader before returning to his native Tanzania. It is by choosing to settle this country, and take charge of the management of the family business, that it becomes billionaire. He explains in an interview via the television program entitled “Réussite”, broadcast on Canal +, how he managed to become a young billionaire African.
How did he achieve this feat? The 42-year-old Tanzanian businessman explains that his company shares market shares with the biggest ones like Coca, Pepsi or Unilever, thanks to a relatively simple strategy. ” Multinational firms spend a lot of money in marketing. By offering products similar to theirs, we exempt ourselves from advertising costs since consumers are already familiar with its products. This strategy allows us to lower our selling prices. “. A simple but effective technique that allowed him to see his company hatch.
Philanthropist rather than entrepreneur
From then on, his company has gained a place in sectors as varied as insurance, real estate or oil. This allowed him to see his business emerge. However, the young entrepreneur says that it took time and patience. To the young people who would like to go into business, he addressed a council: ” Success is achieved step by step, and we must climb all the steps, patiently. “.
The businessman who is now head of Mohammed Enterprises Tanzanian Limited (Melt) prefers to define himself as a philanthropist rather than a rich entrepreneur in millions.