Karim Benjelloun, a Moroccan tech tycoon, has recorded a significant increase in his net worth in recent times due to his ownership stake in Disway SA. The recent bump in his net worth cements his position as a leading figure in the Moroccan tech industry.
According to data tracked by Billionaires.Africa, Benjelloun, who ranks as one of Morocco’s foremost tech entrepreneurs, has seen his ownership position in Disway appreciate by $1.06 million, underscoring his continued success in the technology industry
Disway, the first wholesale distributor of computer and telecom equipment in Morocco, was formed in 2010 by merging the industry leaders Distrisoft and Matel PC Market.
It distributes technological products and offers a wide range of international brands from IT publishers and manufacturers.
Benjelloun, the founder and current general manager of the tech retailer, owns 7.36 percent of the company’s total equity, equivalent to 138,822 ordinary shares.
Benjelloun’s stake reflects his continued involvement in the company’s success since its establishment in 2010.
Disway’s stock on the Casablanca bourse has surged by 11.78 percent since the start of the year thanks to strong investor confidence in the local market. The upward trend pushed the stock price from MAD670 ($65.1) on Jan. 1 to MAD748.9 ($72.8) at the time of this report.
As a result of the recent surge in the company’s shares, Benjelloun’s ownership position has risen from MAD 93.01 million ($9.04 million) to MAD 103.96 million ($10.11 million) as of the time of this report.
This represents a gain of MAD 10.95 million ($1.06 million) in just 82 days, further solidifying his position as not only one of the top entrepreneurs on the local bourse but also as one of the wealthiest investors in the region.
