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The richest people on the Tunis Stock Exchange

The wealthiest investors on the bourse are mostly prominent business families in Tunisia.

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Tunisian businessman Mehdi Tamarziste.

The wealthiest investors on the Tunis Stock Exchange are mostly prominent business families in Tunisia.

Based on figures derived from investment agencies, the latest annual reports and confirmations from capital market registrars, these are the twenty richest people who own stocks listed on the Tunis Stock Exchange. 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 Ismaïl Mabrouk and family

Net worth on the BVMT: $343,450,837

Holdings: Arab International Bank of Tunisia (BIAT), Société Nouvelle Maison de la Ville de Tunis (MONOPRIX)

Ismaïl Mabrouk and his brothers Mohamed Ali and Marouane are the sons of Ali Mabrouk, the legendary Tunisian titan of industry who founded the Mabrouk Group in the 1950s and built it into one of the largest business groups in the Maghreb. In addition to the food industry and the banking and financial activity, Mabrouk Group is present in the areas of large-scale distribution (Monoprix, Geant Casino) and automotive (with Le Motor and in particular the exclusive distribution in Tunisia of Mercedes -Benz, Mitsubishi Pick-up, FIAT). On the BVMT, Mabrouk and his two brothers own a 38.6-percent stake in the Arab International Bank of Tunisia (BIAT), one of the largest public-traded commercial banks in Tunisia. Ismail is chairman of the bank. The three brothers also own 76.73 percent of the listed Societe Nouvelle Maison de la Ville de Tunis (MONOPRIX), which operates a chain of grocery stores across Tunisia.

#2 Rached Horchani and family

Net worth on the BVMT: $118.5 million

Holdings: Banque Internationale Arabe de Tunisie, Amen Bank, Banque de l’habitat, Attijari Bank Tunisia, Wifack International Bank, Tunisie Leasing, Attijari Leasing

Rached Horchani founded Horchani Group in 1983 and built it into one of the largest groups in Tunisia – best known for its food business where it produces, processes and exports dattes, olive oils, and seafood products. Horchani is also one of the most prolific investors on the Tunisian Stock Exchange. Through his own name and via his HorchanI Finance investment company, he owns seven percent of Banque Internationale Arabe de Tunisie; 5.45 percent of Amen Bank; a 21.8-percent stake in Banque de l’habitat; a 1.06-percent stake in Attijari Bank Tunisia; a 1.06-percent stake in Wifack International Bank worth $803,128; 8.69% of Tunisie Leasing; and, a 9.09-percent stake in Attijari Leasing worth $923,674.

#3 Karim Ben Yedder and family

Net worth on the BVMT: $114.2 million

Holdings: Ennakl Automobiles S.A, Amen Bank

Karim Ben Yedder is the son of the late business tycoon Rachid Ben Yedder, the founding president of Amen Bank and former head of the Amen Group, one of the three largest family-owned conglomerates in Tunisia. On the BVMT, Yedder and his siblings control 53.3 percent of the publicly traded Ennakl Automobiles S.A. (NAKL) – an automobile retailer. The stake is valued at $68.9 million. They also own a 22.2-percent stake in Amen Bank valued at $45.3 million, bringing the total value of their investments to $114.2 million. The brothers hold their investments through PGI – Holding Amen Group. Yedder is the company’s president.

#4 Mehdi Tamarziste and family

Net worth on the BVMT: $101.6 million

Holdings: BIAT, UBCI, AMEN BANK, Tunisie Leasing

Mehdi Tamarziste is the son of legendary Tunisian businessman and investor Bechir Tamarziste, who passed away in December 2015. The late Bechir regrouped his stakes in BIAT, UBCI, AMEN BANK, Tunisie Leasing into Meninx Holding, an investment company. Mehdi now owns the company. Its assets include a 12.35-percent stake in Union Bancaire pour le Commerce et l’Industrie (UBCI); 9.3 percent of Banque Internationale Arabe de Tunisie (BIAT); a 3.18-percent stake in Amen Bank and a 4.87-percent stake in Tunisie Leasing Et Factoring.

#5 Karim Milad and family

Net worth on the BVMT: $105,897,237

Holdings: Arab International Bank of Tunisia (BIAT)

Karim Milad is the son of the late Tunisian billionaire travel tycoon Aziz Milad, who was the founder of the TTS Group and Nouvelair, Tunisia’s first private airline. The TTS Group owns a string of hotels and resorts. It also owns an industrial packaging firm and a dairy company. On the BVMT,  Aziz Milad owned a 12.97-percent stake in BIAT, which Karim and his two siblings still hold today.

#6 Yahia Bayahi

Net worth on the BVMT: $94,842,360

Holdings: Société Tunisie Profilé Aluminium, Societe Tunisienne de Verreries (SOTUV)

Yahia Bayahi is chairman and CEO of Tunisie Profilés Aluminium SA, a major aluminium producer. He owns 51.34 percent of the company, as well as 71.8 percent of Societe Tunisienne de Verreries (SOTUV), a Tunisia-based producer and exporter of glass and glass-related products.

#7 Moncef Sellami

Net worth on the BVMT: $59,622,804

Holdings: One Tech Holding (OTH)

The Tunisian businessman is the founder of One Tech Holding (OTH), a company that is engaged in providing engineering, design, production, installation, and training solutions for cables, mechatronics and ICT. Sellami founded the company in 1978 and owns a 25.63-percent stake in the company.

#8 Ridha Charfeddine

Net worth on the BVMT: $55,940,236

Holdings: Unité de Fabrication de Médicaments (UMED).

Ridha Charfeddine is chairman and CEO of pharmaceutical company Unite de Fabrication de Medicaments (UMED). He owns a 70-percent stake in the company.  

#9 Abdellatif Henda El-Fekih

Net worth on the BVMT: $50,810,418

Holdings: 10-percent stake in Banque de Tunisie (BT)

#10 Habib Kamoun

Net worth on the BVMT: $43,442,907

Holdings: 8.55-percent stake in Banque de Tunisie

#11 Habib Essayeh

Net worth on the BVMT: $32,105,835

Holdings: Habib Essayeh owns a 33.55-percent stake in Euro Cycles, a manufacturer and assembler of kids bikes, mountain bikes, road bikes, BMX/trick bikes, commuting bikes, folding bikes, beach cruisers and electric bikes. The company exports more than 450,000 mountain bikes to Europe each year.

#12 Moncef Mzabi

Net worth on the BVMT: $30,320,952

Holdings: Moncef Mzabi, a prominent Tunisian businessman, owns 24.5 percent of Automobile Reseau Tunisien et Services worth $18.7 million, as well as a 5.76-percent stake in Union Internationale de Banque worth $11.6 million.

#13 Ben Ayed Abdelwaheb

Net worth on the BVMT: $26,561,898

Holdings: 3.40-percent stake in Poulina Group Holding, a diversified conglomerate.

#14 Selim Sellami

Net worth on the BVMT:  $23,867,731

Holdings: 10.26-percent stake in One Tech Holding (OTH)

#15 Hedi Karim Sellami

Net worth on the BVMT: $22,099,751

Holdings: 9.5-percent stake in One Tech Holding (OTH) 

#16 Mohamed Sadok Mzabi

Net worth on the BVMT: $19,203,330

Holdings: 25.15-percent stake in Automobile Reseau Tunisien et Services

#17 M’zoughi Mzabi

Net worth on the BVMT: $18,813,919

Holdings: 24.64-percent stake in Automobile Reseau Tunisien et Services

#18 Mohamed El Hedi Ayed

Net worth on the BVMT:  $17,594,984

Holdings: 22.74-percent stake in Wifack International Bank (WIFAK)

#19 Khaled Fakhfakh

Net worth on the BVMT:  $11,593,992

Holdings: 1.42-percent stake in Arab International Bank of Tunisia (BIAT)

#20 Habib Bouaziz

Net worth on the BVMT:  $10,162,189

Holdings: 5.04-percent stake in Union Internationale de Banque (UIB)

Mfonobong Nsehe contributed to this report. Send comments to: news@billionaires.africa.

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Egypt’s richest man Nassef Sawiris loses $600 million in June after gaining $1.25 billion in May

His fortune is derived from a 38.8-percent stake in Netherlands-based OCI N.V. and a six-percent stake in German sportswear behemoth Adidas.

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Egypt's richest man Nassef Sawiris.

After reporting a whopping $1.25-billion increase in his net worth in May, Egypt’s richest man Nassef Sawiris saw his fortune plummet by $600 million in June as the market value of his investment portfolio fell by double digits, mirroring the drop in EU stocks over the month.

Sawiris, a leading Egyptian businessman and one of Africa’s richest billionaires, serves on the boards of Adidas, a leading sportswear manufacturer, and OCI N.V., a global manufacturer and distributor of nitrogen products.

The majority of his fortune is derived from a 38.8-percent stake in Netherlands-based OCI N.V. and a six-percent stake in German sportswear behemoth Adidas, which is valued at $2.11 billion at the time of writing this report.

According to data from the Bloomberg Billionaires Index, Sawiris had a net worth of $7.45 billion at the start of business on June 1, but his net worth dropped to $6.85 billion at the end of business on June 30 due to a decline in the share prices of OCI N.V. and Adidas.

The $600-million decline in his net worth in June follows a drop in EU equities as global markets face immense pressure, with aggressive monetary tightening by the U.S. Federal Reserve and other major central banks fueling fears of an impending economic downturn.

Despite the recent loss, the year-to-date change in Sawiris’ net worth remains positive, with the businessman’s fortune rising by more than $350 million this year, from $6.5 billion at the start of business in January to $6.85 billion at the time of writing.

The increase in his net worth year-to-date can be linked to his stake in OCI N.V., which enjoyed an increase in its valuation after the group reported a 246-percent increase in net income in the first quarter of 2022, from $102 million in the first quarter of 2021 to $354 million, driven by a 108-percent rise in revenue above $2.3 billion due to higher volumes and selling prices.

The group revealed that its outlook remains positive until at least 2024, providing strong support for nitrogen prices to remain above historical averages.

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Ghanaian tycoon Daniel McKorley’s McDan Group to donate land to students for soya bean cultivation

McKorley is a well-known businessman and the founder and CEO of the McDan Group.

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Ghanaian tycoon Daniel McKorley.

Ghanaian tycoon Daniel McKorley has announced plans to donate three to five acres of land to students for soya bean cultivation as part of the efforts to increase food sufficiency in Ghana, as food prices continue to rise due to supply constraints exacerbated by the war in Ukraine.

According to GhanaWeb, the leading business mogul announced the decision at the third edition of the McDanYouthConnect series of events, explaining that the move is part of a concerted effort to improve agriculture and promote food sufficiency in the country. He added that students will be given the opportunity to cultivate one or two products and create value for the nation.

His decision, which was applauded by all dignitaries and persons who attended the event, resulted in the release of 100 acres of land for the block farming project.

McKorley went on to advise students to continue engaging with the “right” people to increase their knowledge base, to network, and to ask for help when trying out something new, as such an attitude in life will allow them to unlock their future potential and grow.

McKorley is a well-known businessman and the founder and CEO of the McDan Group of Companies, an Accra-based transportation and logistics group with three divisions: McDan Shipping, McDan Aviation, and McDan Logistics.

Aside from its core operations in Ghana, the group maintains active operations and an extensive presence in West African countries such as Sierra Leone, Liberia, and Equatorial Guinea through its broad interests in shipping, logistics, and aviation.

McDan Group, led by McKorley, opened its first private jet terminal at an international airport in Accra, Ghana’s capital city, earlier this year, with three planes and one helicopter operating under the McDan Aviation brand.

The jet terminal will serve high-end clients seeking to maximize luxury clients and corporate executives seeking a quick and efficient commute for business purposes.

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Johannesburg-based entrepreneur Tasoulla Hadjigeorgiou’s LottoStar secures investment from UK bookmaker

LottoStar was founded in 2014 as a family-led business.

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Johannesburg-based entrepreneur Tasoulla Hadjigeorgiou.

LottoStar, a South African online betting platform led by Johannesburg-based businesswoman Tasoulla Hadjigeorgiou, has received a significant investment from UK bookmaker Betfred as part of a move to expand operations in the local market and throughout the region.

The investment is part of a strategic partnership in which Betfred will acquire a majority stake in the Johannesburg-based online betting company for an undisclosed sum.

It comes nearly a year after the UK bookmaker made its first investment in the region with the acquisition of Sepels Sports Bet and the Betting World, both owned by Phumelela Leisure.

With the recent agreement, Betfred, which operates 1,500 high street betting shops in the UK and over 50 shops in South Africa, will now be able to deliver value across LottoStar’s 70 locations in South Africa.

The strategic partnership, which has been dubbed “transformative” for the South African sports betting market, will expand LottoStar’s online betting offering and position the company as a dominant player in the region.

Hadjigeorgiou, LottoStar founder and CEO, stated that the partnership with Betfred will not only expand its offerings and reach, but will also provide quality services to its customers.

“We are confident that this partnership will expand our offering and provide our customers with the highest quality services. Our partnership also paves the way for greater collaboration and expansion,” she said.

LottoStar was founded in 2014 by Hadjigeorgiou and her business partner – her husband – as a family-led business with an innovative model to offer an online fixed-money betting platform in South Africa.

It has grown into South Africa’s leading brand for fixed-odds numbers betting and Live Games since its inception more than eight years ago, thanks to high-profile marketing campaigns and ongoing efforts to better its communities through key corporate social responsibility initiatives across the country.

LottoStar took in a total of €1.7 billion ($2.06 billion) in bets in 2020, as it provided users with a variety of services such as lucrative payouts on games that ran multiple times a day and paid out winners almost instantly, as well as bets on the live outcomes of traditional casino games such as blackjack, poker, and roulette.

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