Mohammed Dewji’s MeTL Group is investing $275 million in Tanzania’s graphite sector as global demand for electric vehicle battery minerals accelerates, positioning the country as a key player in the critical minerals export market.
As the global race to secure critical minerals for electric vehicle (EV) batteries intensifies, Tanzania’s richest businessman, Mohammed Dewji, is making a bold $275 million investment in graphite mining, underscoring the country’s growing importance in the global energy transition.
Through MeTL Group, Dewji plans to develop graphite mining operations with commercial production expected to commence within the next 18 months. The investment forms part of the conglomerate’s long-term strategy to increase annual revenue to $10 billion by 2035 while expanding into industries poised for sustained global demand.
Tanzania Positions Itself in the Critical Minerals Value Chain
Graphite has become one of the world’s most strategically important minerals due to its essential role in lithium-ion batteries used in electric vehicles, energy storage systems, and consumer electronics.
Demand for battery-grade graphite is projected to rise sharply over the coming decade as governments and automakers seek to diversify supply chains beyond China, which currently dominates global graphite processing.
Speaking to Bloomberg, Dewji said MeTL is already collaborating with European partners to understand battery manufacturers’ product specifications while simultaneously sourcing advanced processing technology from China.
The company intends to initially produce graphite with approximately 94% purity for Chinese refiners before upgrading its processing capabilities to manufacture battery-grade graphite for direct export to Europe, Japan, and South Korea.
The strategy aligns Tanzania with growing international efforts to establish more diversified and resilient critical mineral supply chains.
Expanding Tanzania’s Export Potential
The investment highlights Tanzania’s ambition to move beyond exporting raw minerals by developing value-added processing capabilities that can serve high-growth international markets.
With global graphite demand expected to outstrip supply in the early 2030s, the project could strengthen Tanzania’s position as a reliable supplier of critical minerals required for the global clean energy transition.
For Tanzania, increased investment in graphite mining and processing could generate new export revenues, create skilled employment opportunities, and support the development of downstream mineral industries.
Beyond Mining: Luxury Tourism Expansion
In addition to mining, MeTL Group is expanding its presence in Tanzania’s tourism sector.
The company has acquired a 150-hectare island near Zanzibar, where it plans to develop an ultra-luxury resort in partnership with an international hospitality operator.
It has also secured a concession within Serengeti National Park to develop a high-end safari lodge targeting affluent international travelers, reflecting growing global demand for premium African tourism experiences.
MeTL Targets Long-Term Growth
MeTL Group has evolved into one of East Africa’s largest privately owned conglomerates, manufacturing more than 50 product categories and operating across 11 African countries. The company employs over 40,000 people in sectors including manufacturing, agribusiness, logistics, financial services, and consumer goods.
The latest investments reinforce MeTL’s strategy of diversifying into industries driven by long-term global trends, including clean energy, critical minerals, agriculture, and luxury tourism.
The announcement also follows Dewji’s reported interest in investing $100 million in Aliko Dangote’s proposed $17 billion refinery project in Kenya, highlighting the group’s increasing focus on large-scale industrial and infrastructure investments across Africa.
As global demand for battery minerals continues to rise, MeTL’s graphite investment positions Tanzania to play a more significant role in international critical mineral supply chains while strengthening the country’s export competitiveness in the rapidly expanding green economy.