Tanzanian billionaire Mohammed Dewji has officially launched Tanzania Coin ($TANZANIA), a new cryptocurrency that aims to place Tanzania at the forefront of digital finance in East Africa. According to Daily News, Dewji insists that the project is 100% legitimate, no scams, no hacks,just a bold move into the crypto space.
Dewji, widely known as “Mo,” is the CEO of MeTL Group, a conglomerate with investments spanning manufacturing, agriculture, and finance. His latest venture and significant investment into cryptocurrency aligns with his vision of driving economic innovation in Tanzania.
Announcing the launch, he stated, “The future of digital finance starts here” However, Tanzania’s crypto landscape remains uncertain. The government has yet to establish clear regulations for digital currencies, and cryptocurrencies are not recognised as legal tender. In 2021, a task force was set up to explore blockchain technology, but no concrete policies have emerged. Without proper regulations, investors may hesitate to adopt $TANZANIA, fearing potential legal and security risks.
A similar scenario played out in January 2025, when the U.S. President Donald Trump Launched a meme coin, $TRUMP. The token surged to a $14.5 billion market cap before crashing, leaving many retail investors with significant losses. The incident raised concerns about ethics, transparency, and the influence of high-profile figures in crypto markets.
For Tanzania, Dewji’s move could either open doors for digital finance or expose investors to significant risks. The success of $TANZANIA largely depends on whether the government introduces regulatory frameworks to safeguard users. Until then, the coin remains an ambitious but uncertain bet.
