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Moroccan tech tycoon Karim Benjelloun has recorded a million-dollar surge in his net worth in the last 45 days, as shares in Morocco-based technology distributor, Disway SA, continue to rise in value.
At the end of 2021, Disway, Morocco’s first technology distributor, recorded a revenue of about $190 million under Benjelloun’s leadership.
The multimillionaire businessman, who is also the hardware distributor’s general manager and co-founder, owns 7.36 percent of the firm, or 138,822 shares.
As of press time, Feb. 18, Disway shares were trading at MAD760 ($80.6) on the Casablanca bourse, unchanged from its opening price on the exchange this morning as bullish and bearish pressures were evenly cleared out.
Since Jan. 4, the company’s share price has risen from MAD692 ($73.4) to MAD760 ($80.6) as of the time of writing this article, representing a 10-percent gain for shareholders over the previous 45 days.
As a result of the price surge, the market value of Benjelloun’s stake has increased by MAD9.4 million ($1 million), from MAD96.1 million ($10.1 million) on Jan. 4 to MAD105.5 million ($11.1 million) at the time of writing.
The market value of his interest has climbed by more than $4.2 million in the last year due to a 60-percent increase in the company’s shares.
According to data from Disway’s most current activity indicators, its revenue in 2021 climbed by 6.7 percent from MAD1.7 billion ($182.5 million) in 2020 to more than MAD1.8 billion ($193.2 million).
The single-digit percentage increase in revenue was driven by an increase in product demand and the adoption of its e-commerce website.
In Q4 2021, its revenue rose by 10.5 percent to MAD515 million ($55.3 million), driven by an 18-percent increase in the sales of fixed and portable PCs, printing and image products.
