Tanzania, July 10 -- Cape Town. Tanzanian conglomerate MeTL Group expects to surpass $3 billion (about Sh7.8 trillion) in annual revenue this year, with Chief Executive Officer, Mohammed Dewji, attributing the growth to decades of investment in manufacturing, value addition and the revival of struggling industries.

Speaking at Standard Bank's Business and Commercial Banking Conference, Africa Unlocked, in Cape Town, Mr Dewji said MeTL's transformation from a trading company into a major African manufacturing conglomerate demonstrates the long-term benefits of investing in production despite challenging business conditions.

The group now manufactures more than 50 product categories, operates in 11 African countries and employs more than ...