Tanzania’s richest businessman, Mohammed Dewji, is making a major investment in the future of electric vehicles (EVs) through a $275 million graphite mining project, as global demand for critical minerals continues to rise. Dewji’s company, MeTL Group, plans to invest in graphite mining with commercial production expected to begin within the next 18 months. The project aims to supply the growing electric vehicle battery industry while strengthening Tanzania’s position in the global clean energy supply chain. In an interview with Bloomberg, Dewji said the company is working with European part

Tanzania’s richest businessman, Mohammed Dewji, is making a major investment in the future of electric vehicles (EVs) through a $275 million graphite mining project, as global demand for critical minerals continues to rise. Dewji’s company, MeTL Group, plans to invest in graphite mining with commercial production expected to begin within the next 18 months. The project aims to supply the growing electric vehicle battery industry while strengthening Tanzania’s position in the global clean energy supply chain. In an interview with Bloomberg, Dewji said the company is working with European partners to understand the requirements for battery-grade graphite, while its team is also looking for processing technology in China. “I am already working very closely with some European partners to understand what quality of product they require,” Dewji said. Initially, MeTL Group plans to produce graphite with around 94% purity, supplying Chinese refiners before advancing toward battery-grade graphite exports to markets such as Europe, Japan and South Korea. Supporting the Global Electric Vehicle Revolution Graphite is a key material used in lithium-ion battery anodes, making it essential for electric vehicles and large-scale energy storage systems. The investment comes as countries and automotive companies seek to diversify mineral supply chains away from China, which currently dominates global graphite processing. Experts expect graphite demand to continue increasing in the coming years as the world accelerates the transition toward clean energy and electric mobility. Expanding Beyond Mining The graphite project is part of Dewji’s wider strategy to expand MeTL Group beyond manufacturing and consumer goods. The company aims to grow its annual revenue to $10 billion by 2035 by investing in sectors including mining, agriculture and luxury tourism. In tourism, MeTL has acquired a 150-hectare island near Zanzibar, where it plans to develop an ultra-luxury resort with an international hospitality partner. The company has also secured a concession in Tanzania’s Serengeti National Park to build a luxury safari lodge targeting international visitors. Building a Pan-African Business Empire MeTL Group has grown into one of East Africa’s largest privately owned companies, operating across multiple sectors including manufacturing, agribusiness, logistics, financial services and consumer goods. The company operates in 11 African countries and employs more than 40,000 people. Dewji has also shown interest in other major African industrial projects, including a possible $100 million investment in Aliko Dangote’s proposed refinery project in Kenya. The billionaire’s latest moves reflect a broader trend of African investors positioning themselves in industries linked to the global energy transition and high-value tourism. If successful, the graphite and tourism investments could help transform MeTL Group into one of Africa’s leading diversified industrial companies over the next decade.

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