The Casablanca Stock Exchange is one of the top exchanges on the continent that has created tremendous wealth for founders and investors since its establishment in 1929, 27 years before Morocco gained independence.
As of press time, 6:00 AM (UTC), Aug. 27, the market capitalization of all 81 listed companies on the exchange is MDH652.10 billion ($72.65 million), with institutional investors controlling a substantial percentage of the capitalization.
The market value of the equity stakes of the 20 richest founders and investors who hold beneficial interests in Morocco-based companies amounted to $3.06 billion. This represents 4.21 percent of the total market capitalization of the bourse.
Based on figures derived from investment agencies, the latest annual reports and confirmations from capital market registrars, these are the 20 richest people who own stocks listed on the Casablanca bourse.
The value of their shares is based on prices at the end of trading on Aug. 20, and valuations are converted to U.S. dollars at current exchange rates.
#1 Othman Benjelloun
Net Worth on the CSE: $1.3 billion
Holdings: 33.39% stake in Bank of Africa
Moroccan billionaire banker Othman Benjelloun is CEO Bank of Africa, which has a presence in more than 20 African countries. He owns a 33.39-percent stake in the bank.
#2 Anas Sefrioui
Net Worth on the CSE: $312.7 million
Holdings: Douja Prom Addoha
Anas Sefrioui is the general president of the publicly traded homebuilder Groupe Addoha. He owns a 64.5-percent stake in the company.
#3 Mohamed Tazi
Net worth on the CSE: $267,905,790
Holdings: 19.20% stake in Societe de Therapeutique Marocaine SA
Mohamed Tazi is the son of Omar Tazi, the founder of Societe de Therapeutique Marocaine SA (Sothema), a large Moroccan pharmaceutical company. He owns 19.20 percent of the company. Tazi and his siblings are some of the richest people on the Casablanca Stock Exchange as a result of shares their father bequeathed to them.
#4 Najia Tazi
Net worth on the CSE: $136,883,114
Holdings: 9.81-percent stake in Societe de Therapeutique Marocaine SA
#5 Lamia Tazi
Net worth on the CSE: $117,208,783
Holdings: 8.40-percent stake in Societe de Therapeutique Marocaine SA
#6 Selma Tazi
Net worth on the CSE: $103,534,425
Holdings: 7.42-percent stake in Societe de Therapeutique Marocaine SA
#7 Bahia Berrada
Net worth on the CSE: $93,627,492
Holdings: 6.71-percent stake in Societe de Therapeutique Marocaine SA
#8 Mohammed Karim Berrada
Net worth on the CSE: $93,627,492
Holdings: 6.71-percent stake in Societe de Therapeutique Marocaine SA
#9 Mohammed Amine Berrada
Net worth on the CSE: $90,836,807
Holdings: 6.51-percent stake in Societe de Therapeutique Marocaine SA
#10 Hassan Amor Â
Net worth on the CSE: $70,071,531
Holdings: Microdata SA
Hassan Ammor is the controlling shareholder of Microdata SA, a company that operates within the software and services sector, focusing on data processing and outsourcing services. Ammor owns 56.16 percent of the company.
#11 Badiaa Tazi
Net worth on the CSE: $58,185,788
Holdings: 4.17-percent stake in Societe de Therapeutique Marocaine SA
#12 Halima Berrada
Net worth on the CSE: $55,534,637
Holdings: 3.98-percent stake in Societe de Therapeutique Marocaine SA
#13 Mohamed Alami Nafakh Lazraq
Net worth on the CSE: $51,655,824
Holdings: Alliances Developpement Immobilier SA (ADI)
Mohamed Alami Nafakh runs Alliances Developpement Immobilier SA, a builder of hotels and middle-income housing in Morocco. Lazraq owns 51.68 percent of the company.
#14 Lina Berrada
Net worth on the CSE: $51,209,075
Holdings: 3.67-percent stake in Societe de Therapeutique Marocaine SA
#15 Mohamed Horani
Net worth on the CSE: $46,683,193
Holdings: Hightech Payment Systems SA
Mohamed Horani owns a 9-percent stake in Hightech Payment Systems SA (HPS), a Morocco-based software company. The company designs and provides comprehensive, modular and integrated solutions that manage electronic payments. Horani co-founded the company in 1995 along with Samir Khallouqui, and Abdeslam Alaoui Smaili.
#16 Samir Khallouqui
Net worth on the CSE: $46,237,109
Holdings: 8.914-percent stake in Hightech Payment Systems SA (HPS)
#17 Abdeslam Alaoui Smaili
Net worth on the CSE: $45,956,491
Holdings: 8.8599-percent stake in Hightech Payment Systems SA
#18 Driss Sabbahe
Net worth on the CSE: $45,955,454
Holdings: 8.8597-percent stake in Hightech Payment Systems SA
#19 Amal Diouri
Net worth on the CSE: $41,860,279
Holdings: 3-percent stake in Societe de Therapeutique Marocaine SA
#20 El Ghali Tahiri
Net worth on the CSE: $26,232,441
Holdings: 1.88-percent stake in Societe de Therapeutique Marocaine SA
Mfonobong Nsehe contributed to this report. Send comments to: [email protected].
