A CONSORTIUM of leading global banks led by
"When I joined this family business in 1999 after returning from the US, my father was mainly focusing on commodities trading but I said that we need to start using local commodities in manufacturing," the youthful lawmaker said.
He pointed out that since then, MeTL has established soap, edible oil, sisal bags, plastics and soft drinks manufacturing plants employing thousands of people and paying billions in taxes to the government.
"Revenue from this group of companies has increased from
Paying tribute to former President Benjamin William Mkapa and President Jakaya Mrisho Kikwete for creating business friendly environments and private sector incentives which have encouraged investments including his family's MeTL conglomerate.
"Former President Mkapa introduced policies which encouraged private sector to invest in manufacturing by offering several incentives.
President Kikwete has further improved the situation," the
He revealed that MeTL which has invested over
"Our products control about 38 per cent of the market in
On behalf of the consortium of banks,
"We hope you will again use this money to further develop your business," Havermahl said.
He said RMB and its partner banks have agreed to loan MeTL the huge sum of money because the first loan was put to better use which resulted into growth of the commodity trading cum manufacturing group. Other banks which contributed to the loan are
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