Moroccan tycoon Lamia Tazi stake in Sothema rebounds above $60 million

Feyisayo Ajayi -

Lamia Tazi, the leading Moroccan pharmaceutical tycoon and CEO of Marocaine Ste de Therapeutique (Sothema), has experienced a substantial surge in her fortune thanks to the recent rebound in the market value of her stake in the company to more than $60 million. This surge has solidified her position among the wealthiest individuals in Morocco.

Tazi’s recent financial gains are tied to the surge in Sothema’s stock on the Casablanca bourse. In the last month alone, the company’s shares rose significantly, boosting Tazi’s holdings by MAD23.59 million ($2.3 million). This upswing follows a period of losses for Tazi, who saw her Sothema holdings drop by $3 million between Jan. 24 and Feb. 15.

Sothema shares surge: Market capitalization hits $740 million on Casablanca bourse

Sothema is Morocco’s leading healthcare company, producing about 60 million units of drugs per year and operating a diverse portfolio of 35 multinational laboratories that produce and export goods to Europe, the Maghreb, Sub-Saharan Africa, and the Persian Gulf.

Under Lamia Tazi’s leadership, the company recently signed a Memorandum of Understanding (MOU) with Mauritania’s Central Purchasing Center for Essential Medicines and Medical Consumables (CAMEC), marking a significant stride towards enhancing healthcare efforts in Mauritania.

The renewed buying interest in Sothema shares on the Casablanca bourse has led to a 3.91-percent increase in the company’s shares, driving its market capitalization close to $740 million. This surge has resulted in significant returns for shareholders, including Lamia Tazi.

Lamia Tazi’s stake in Sothema skyrockets to $62 million on market rally

Lamia Tazi, the chairperson and CEO of Sothema, who also ranks as one of the wealthiest investors on the Casablanca bourse owns a significant 8.4-percent stake in the leading healthcare company, equivalent to 605,030 issued shares.

According to data tracked by Billionaires.Africa, the recent surge in Sothema shares has elevated the market value of Tazi’s stake by MAD23.59 million ($2.34 million) in recent weeks, from MAD603.82 million ($59.80 million) on Feb. 21 to MAD627.42 million ($62.14 million).