Home » The richest people on the Tunis Stock Exchange

The richest people on the Tunis Stock Exchange

by Omokolade Ajayi

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: [email protected].

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