Latest news with #OthmanBenjelloun
Ya Biladi
14-05-2025
- Business
- Ya Biladi
Three Moroccan family firms ranked in Forbes' Top 100 Arab Businesses
Three Moroccan family businesses have secured spots on Forbes Middle East's 2025 list of the Top 100 Arab Family Businesses. Leading the Moroccan entries is O Capital Group, headed by billionaire financier Othman Benjelloun. Ranked 23rd, the group emerged in 2021 following the merger of FinanceCom and Holding Benjelloun Mezian. O Capital Group now holds a 7.16% stake in Bank of Africa and oversees the development of the Mohammed VI Tower through its subsidiary, O Tower. As of April 2025, the Benjelloun family's net worth was estimated at $1.6 billion. The second Moroccan family business on the list is Holmarcom Group, led by Mohamed Hassan Bensalah, which ranks 80th. Founded nearly six decades ago, the group operates in finance, agro-industry, logistics, and real estate. It holds majority shares in AtlantaSanad Assurance and Crédit du Maroc. Coming in at 84th is Diana Holding, chaired by Rita Maria Zniber. Established in 1956 by her late husband, Brahim Zniber, the group has grown into a major agro-industrial player, managing over 8,300 hectares of farmland and employing around 7,200 people. Overall, the list is dominated by companies from the GCC region.
Morocco World
13-05-2025
- Business
- Morocco World
Forbes: Three Moroccan Family Businesses Among Most Powerful in Arab World
Rabat – Forbes Middle East's latest ranking has featured three major Moroccan family businesses among the top 100 most powerful Arab family companies in 2025. In its newly released ' Top 100 Arab Family Businesses 2025 ' list, Forbes Middle East spotlighted the leading family-run companies in the Arab world. Representing Morocco in this pool of prestigious family-run businesses O Capital Group, Holmarcom, and Diana Holding. O Capital Group is the highest-ranked Moroccan company on the list; it comes in 23rd place. Created in 2021 after FinanceCom merged into Holding Benjelloun Mezian, the group is led by Othman Benjelloun, one of Morocco's most well-known businessmen. O Capital operates in several sectors, including finance, insurance, and investments, both in Morocco and abroad. Forbes Middle East noted that, as of the end of April 2025, Benjelloun and his family had a fortune estimated at $1.6 billion. Next is Holmarcom Group, led by Mohamed Hassan Bensalah; it ranked 80th region-wide. Founded in 1978, the Moroccan group works in different important sectors such as finance, agro-industry, logistics, and real estate. It is one of the most influential family businesses in Morocco today. Diana Holding, led by Rita Maria Zniber, is the third Moroccan group on the list, coming in 84th place. The company was originally founded by her late husband, Brahim Zniber, in 1956. Read also: Morocco's Corporate Dominance: 14 Firms Rule North Africa's Top 20 Diana Holding focuses on agriculture and agro-industry and manages a wide range of activities, including poultry, beverages, seafood, plastic packaging, distribution, and retail. The group manages about 8,300 hectares of land, runs over 30 subsidiaries, and employs around 7,200 people, according to Forbes. The Top 100 list is mostly dominated by Gulf countries. Saudi Arabia leads with 33 family companies, followed closely by the United Arab Emirates with 32. The top three spots on the list go to Al Muhaidib Group (Saudi Arabia), Abdul Latif Jameel Group (Saudi Arabia), and Al-Futtaim Group (UAE). Family businesses in the region are 'far more than commercial enterprises,' Forbes noted. Instead, it concluded, they are 'pillars of society, deeply interwoven with the region's cultural fabric and historical legacy.' Tags: businessesForbesMorocco
Ya Biladi
02-04-2025
- Business
- Ya Biladi
Akhannouch ranks as Morocco's third richest, after Benjelloun and Sefrioui: Forbes
The 2025 annual Forbes list of the world's billionaires includes three Moroccans with fortunes exceeding $1 billion: Othman Benjelloun, Anas Sefrioui, and Aziz Akhannouch. At the top of the list is Othman Benjelloun, with an estimated net worth of $1.6 billion, up from $1.4 billion in 2024. He ranks 14th in Africa and 2,110th globally. Benjelloun is the CEO of BMCE Bank of Africa, which operates in over 20 African countries. Through his holding company, FinanceCom, he also holds a stake in the Moroccan branch of the French telecommunications company Orange. Anas Sefrioui also shares the top spot with Benjelloun, with a net worth of $1.6 billion (ranked 14th in Africa and 2,110th globally). Sefrioui is the founder and CEO of Douja Group, a publicly traded company that has prospered thanks to government contracts. He built his wealth by developing affordable housing projects across Morocco. Prime Minister Aziz Akhannouch comes in third, with a fortune of $1.5 billion, down from $1.7 billion in 2024. He ranks 16th in Africa and 2,233rd globally. Akhannouch is the main owner of Akwa Group, a multi-billion-dollar conglomerate founded by his father and business partner Ahmed Wakrim in 1932. The group has investments in the petroleum, gas, and chemical industries through its publicly traded companies Afriquia Gaz and Maghreb Oxygène.
Morocco World
01-04-2025
- Business
- Morocco World
Benjelloun, Sefrioui, Akhannouch Among 2025 Forbes World's Billionaires
Doha – What started as an exclusive club of 140 billionaires in Forbes' first list in 1987 has exploded into a $16.1 trillion powerhouse of global wealth in 2025. The latest Forbes World's Billionaires list has shattered all previous records, counting 3,028 billionaires – an addition of 247 members from last year and nearly $2 trillion in new wealth. The list, compiled using stock prices and exchange rates from March 7, showcases the unprecedented expansion of global wealth across industries and continents. Morocco's representation on the list is led by Othman Benjelloun, CEO of BMCE Bank of Africa, with a net worth of $1.6 billion. Benjelloun, who ranks 2110 globally and 14 in Africa, has built his fortune through banking and insurance. His business empire includes a significant stake in the Moroccan arm of French telecom firm Orange through his holding company FinanceCom. The 92-year-old banker is also known for his ambitious $500 million Mohammed VI Tower project in Rabat, set to be one of Africa's tallest buildings. Benjelloun's influence extends beyond banking – he co-owns Ranch Adarouch, one of Africa's largest cattle breeders, and received the David Rockefeller Bridging Leadership Award in 2016 for his educational initiatives in rural Morocco. He holds a diploma from Ecole Polytechnique de Lausanne. Anas Sefrioui makes a notable comeback to the ranking for the first time since 2017, matching Benjelloun with a net worth of $1.6 billion. The 67-year-old founder and CEO of Groupe Addoha, sharing the same position as Benjelloun, also ranked 2110 globally and 14 in Africa, has accumulated his wealth through government-contracted low-cost housing developments. His success in developing affordable housing projects across Morocco has established him as a key figure in the country's real estate sector. His success is further amplified by his daughter Kenza's role as deputy chairman, solidifying the family's influential footprint at the helm of the company. Prime Minister Aziz Akhannouch rounds out the Moroccan contingent with a fortune of $1.5 billion, placing him at 2233 globally and 16 in Africa. The 64-year-old majority owner of Akwa Group, a conglomerate founded by his father and Ahmed Wakrim in 1932, maintains diverse interests in petroleum, gas, and chemicals through publicly-traded companies Afriquia Gaz and Maghreb Oxygene. Akhannouch, who holds an MBA from Universite de Sherbrooke, was appointed prime minister of Morocco in September 2021. His business influence extends through his family, with his wife Salwa Idrissi running her own company that holds franchises for international luxury brands including Gap, Gucci, and Ralph Lauren in Morocco. The African continent reached a new threshold, with its billionaire count reaching 22 and their combined wealth exceeding $100 billion for the first time, totaling $105 billion – up from $82.4 billion in 2024. With three figures on the list, Morocco holds the third spot in Africa for billionaire count, behind South Africa with seven and Nigeria with four. Nigeria's Aliko Dangote leads the African rankings for the 14th consecutive year with $23.9 billion, followed by South African Johann Rupert at $14 billion. Globally, the United States continues to dominate with 902 billionaires, followed by China with 516 (including Hong Kong) and India with 205. The world's wealthiest individual remains Elon Musk with an estimated net worth of $342 billion, followed by Mark Zuckerberg at $216 billion and Jeff Bezos at $215 billion. The continued presence of Moroccan business leaders on this prestigious list reflects the country's role in Africa's economic landscape, amid market volatility and political uncertainties. Read also: Moroccan Businesswomen Claim Strong Positions in Forbes MENA Rankings Tags: Anas SefriouiAziz Akhannouchforbes listOthman Benjelloun
