Tycoon Dewji Takes On Coca-Cola With Tanzania Investment Ramp Up

Tanzanian billionaire Mohammed Dewji plans to invest at least $1 billion to expand his business and take on rivals, including Coca-Cola Co. and Unilever, in the East African country.

About 40% of the funds will be equity financing and the reminder raised through debt, Dewji said an interview at the Qatar Economic Forum. The investment will be made over three to five years, about 15% of which will be deployed to fund operations in neighboring countries such as Rwanda and Uganda, he said.