10 richest Moroccans on the Casablanca Stock Exchange

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Billionaires.Africa has released its exclusive ranking of the wealthiest Moroccan investors on the Casablanca bourse. This list spotlights the top 10 individuals who hold the most valuable portfolios on the Casablanca bourse, providing a unique insight into Morocco’s financial elite, with particular emphasis on the most affluent investors in the local stock exchange.

While the overall portfolio value of Moroccan business leaders, such as Aziz Akhannouch, who also serves as Morocco’s prime minister, Anas Sefrioui, the president of Groupe Addoha, and Alami Lazraq, has witnessed substantial growth since the start of the year, others, including King Mohammed VI, Othman Benjelloun, and Lamia Tazi, have experienced a notable decline in the market value of their portfolios.

The exclusive list is based on data sourced from S&P Global Market Intelligence, complemented by information extracted from publicly available documents and disclosures. The valuation of their stock holdings was determined by each company’s respective share prices as of November 6, with the values subsequently converted into U.S. dollars at the prevailing exchange rates.

Billionaires.Africa maintains a focus on individual ownership, placing emphasis on personal wealth rather than multi-generational family fortunes. In instances where the delineation of ownership among siblings or couples is unclear, the organization attributes the wealth to the most prominent and visible member of the family.

Here are the top 10 individuals who hold the most valuable portfolios on the Casablanca bourse:

1. King Mohammed VI
   – Net worth on the CSE: $6.4 billion
   – Holdings: Attijariwafa bank, Managem, Wafa Assurance
   – King Mohammed VI, through Al Mada, his royal family office, is the wealthiest individual on the Casablanca Stock Exchange with a net worth of $6.4 billion. His extensive portfolio includes a 46.5-percent stake in Attijariwafa bank, a Moroccan multinational commercial bank, valued at more than $4.5 billion. Additionally, he possesses an 81.4-percent share in mining company Managem, worth more than $1.3 billion, and an indirect 39.6-percent shareholding in Wafa Assurance, valued at over $562.95 million.

2. Othman Benjelloun
   – Net worth on the CSE: $996.75 million
   – Holdings: Bank of Africa
   – Othman Benjelloun, a respected 90-year-old Moroccan billionaire, continues to serve as chairman and CEO of BMCE Bank of Africa. He holds a significant 27.41-percent stake in Bank of Africa, with a net worth of $996.75 million.

3. Aziz Akhannouch
   – Net worth on the CSE: $434.0 million
   – Holdings: Afriquia Gaz
   – Aziz Akhannouch, Morocco’s prime minister, holds an indirect 30-percent stake in Afriquia Gaz through his ownership of Akwa Group, a prominent Moroccan conglomerate. His stake in Afriquia Gaz is worth $434.0 million.

4. Anas Sefrioui
   – Net worth on the CSE: $378.9 million
   – Holdings: Douja Prom Addoha
   – Anas Sefrioui, the general president of Groupe Addoha, a publicly traded homebuilder, holds a commanding 64.1-percent stake in the company, valued at $378.9 million.

5. Said ALJ
   – Net worth on the CSE: $140.65 million
   – Holdings: Unimer Group
   – Said ALJ, a highly influential Moroccan businessman, is the founder of Unimer Group, renowned for manufacturing and exporting the ‘Titus’ brand of canned Sardines to various West African countries. He owns a substantial 79.79-percent stake in Unimer Group, listed on the Casablanca Stock Exchange, with a net worth of $140.65 million.

6. Mohamed Ben Thami Tazi
   – Net worth on the CSE: $130 million
   – Holdings: Societe de Therapeutique Marocaine SA (SOTHEMA)
   – Mohamed Tazi, the son of Omar Tazi, the founder of Societe de Therapeutique Marocaine SA (Sothema), owns an 18.1-percent stake in the corporation, worth $130 million. Tazi and his siblings have inherited significant shares from their father, making them some of the wealthiest individuals on the Casablanca Stock Exchange.

7. Alami Lazraq
   – Net worth on the CSE: $119.89-million
   – Holdings: Alliances Developpement Immobilier
   – Mohamed Alami Nafakh Lazraq, the founder of Alliances Developpement Immobilier, holds a substantial 51.7-percent stake in the company, with a net worth of $119.89 million. The company specializes in the development, building, marketing, and management of commercial and residential assets, as well as tourist properties.

8. Najia Tazi
   – Net worth on the CSE:$70.54 million
   – Holdings: Societe de Therapeutique Marocaine SA (SOTHEMA)
   – Najia Tazi owns a 9.8137-percent stake in Societe de Therapeutique Marocaine SA (Sothema), valued at $70.54 million

9. Lamia Tazi
   – Net worth on the CSE:$60.4 million
   – Holdings: Societe de Therapeutique Marocaine SA (SOTHEMA)
   – Lamia Tazi owns an 8.1-percent stake in Societe de Therapeutique Marocaine SA (Sothema), with a net worth of $60.40 million.

10. Salma Tazi
    – Net worth on the CSE:$50.35 million
    – Holdings: Societe de Therapeutique Marocaine SA (Sothema)
    – Salma Tazi holds a 7.0043-percent stake in Societe de Therapeutique Marocaine SA (Sothema), valued at $50.35 million.