Mohammed
Dewji, head of the $1.25bn MeTL Group and an MP in Tanzania, is set to launch a
foundation in May to give away $100m of his fortune.
Dewji –
ranked 31st richest person in Africa last year by Forbes – plans to gift around
$2m from his fortune to the Mo Dewji Foundation on its launch, gradually
building up the endowment fund to some $100m, he told Philanthropy
Age.
“I earned my
money in Africa,” said Dewji. “It is my responsibility and priority to give
back.
The
foundation will start with work across Tanzania, with the aim of extending its
reach into other African countries. The focus areas of the foundation are still
being developed, but education, healthcare, water access and enhancing
purchasing power for the very poor are all being considered. The timeframe by
which the foundation will reach its $100m target is still being decided, he
added.
Dewji, 39,
heads the Mohammed Enterprises Tanzania (MeTL) Group, an industrial
conglomerate. Involved in local development for more than a decade through his
political office, Dewji wants to use his foundation to extend his philanthropic
reach throughout his country
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