Mohammed Dewji, the Tanzanian billionaire and head of the MeTL Group, is venturing into the extraction and processing of critical minerals, with an initial focus on lithium. This strategic move aims to leverage the growing global demand for electric vehicle (EV) batteries and other clean energy technologies. The expansion signifies a shift by African nations to move beyond exporting raw materials and instead establish domestic processing industries to capture more value from their natural resources.
Dewji's MeTL Group, a prominent East African conglomerate with interests spanning agribusiness, consumer goods, textiles, logistics, energy, and distribution, is actively exploring opportunities in Tanzania's mining sector. This initiative aligns with broader efforts across Africa, where countries like Nigeria, Zimbabwe, Namibia, the Democratic Republic of Congo, and Zambia are also implementing policies to encourage local processing and establish regional battery value chains. Nigeria, for instance, recently commissioned what it claims to be West Africa's largest lithium processing plant, capable of processing up to three million metric tons annually.
The investment in critical minerals is part of a larger government strategy in Tanzania to prioritize value addition in the mining sector. The country is also considering establishing a strategic minerals center of excellence to develop expertise in EV battery production and energy storage technologies. This focus on local processing is intended to create jobs, attract manufacturing investment, and ensure that African countries benefit more substantially from the global energy transition. Dewji's pivot into this sector underscores the increasing recognition among African business leaders and governments of the economic potential embedded in their mineral wealth.
