DAR ES SALAAM, Jan. 18 -- MOHAMMED Dewji popularly known as Mo, has continued to hold the first spot as Africa's youngest billionaire, according to the latest report released by Forbes Africa's Billionaires.

Despite losing US dollars 300million, the Tanzanian tycoon has continued to maintain the first spot in six years running. According to the latest report Mo Dewji is now worth US dollars 1.6 billion.

According to the latest report, he has climbed one position in the list of Africa Forbes Africa's billionaires as he now occupies Number16th slot. In the previous report he was ranked 17th.

Dewji is one of the key players in private sectorled development in the country, well known for being a leader in local employment and manufacturing i...