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.
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