Tanzanian billionaire Mohammed Dewji’s MeTL Group unveils insurance scheme

MeTL Group, a leading industrial conglomerate led by Tanzanian billionaire Mohammed Dewji, has unveiled a comprehensive insurance scheme aimed at safeguarding enterprises operated by MeTL Bajaj, an East African manufacturer of bicycles, tricycles, motorized three-wheelers, and motorbikes.

The insurance scheme, which will launch in collaboration with the MO Assurance Company, will include fire and burglary services and will be aimed at safeguarding enterprises and tackling important concerns and problems faced by businesses in Tanzania and throughout East Africa.

Fatema Dewji, MeTL Group’s marketing director, stated that the insurance scheme will emphasize help for business partners. She went on to state that the scheme will bring together dealers, listen to their challenges, and come up with solutions to further improve their business.

Ashish Joshi, CEO of MeTL Bajaj, an operating subsidiary of MeTL Group, expressed gratitude to the division’s workforce and channel partners for their continuing efforts and support.

He explained that the new fire and burglary insurance policy provides dealers and customers with additional safety, and the company believes that this service will assist a large number of people.

Mo Assurance CEO Gregory Fortes commended MeTL Bajaj for providing their partners with fire and burglary coverage. He stated that MO Assurance’s goal is to become the region’s top insurer in the next five years, as well as to expand and become a leader in micro-finance programs.

MeTL Group is Tanzania’s largest home-grown corporation, worth more than $1 billion, with operations in 11 African countries, including Uganda, Ethiopia, Kenya, Rwanda, Burundi, Zambia, Mozambique, Malawi, the Democratic Republic of the Congo, and, of course, Tanzania.

Dewji, CEO of MeTL, revealed earlier this year plans to float an agribusiness company in New York or London next year under a $4-billion blank check structure backed by development banks.