Rabat- Othman Benjelloun, owner of BMCE Bank, was ranked the richest billionaire in Morocco, followed by Miloud Chaabi, while the Minister of Agriculture and Marine Fishing, Aziz Akhenouch, occupied the third place.
Through his company FinanceCom, Benjelloun, the 81-year- old businessman, has investments in banking, insurance, and telecom in Morocco. His BMCE Bank is one of Morocco’s largest banks. Its activities in more than 15 African countries generated 44% of BMCE Bank’s earnings last year, according to Forbes magazine.
According to Forbes’s new World’s Richest Billionaires report, Othman Benjelloun is ranked the top billionaire in Morocco and tenth in Africa’s 40 Richest , with a net worth estimated at $2.8 Billion.
The diversified, self-made businessman, Miloud Chaabi, is the second richest billionaire in Morocco and the 17th in Africa, according to the same report.
Chaabi began in 1948 by as a housing developer, then expanded through his privately owned Ynna Holding into hotels, supermarkets and renewable energy. Now, his net worth is $1.9 Billion.
The minister of Agriculture and Marine Fishing, Aziz Akhannouch, is ranked the third richest billionaire in Morocco and the 20th in Africa, with an estimated net worth of $1.4 Billion.
Aziz Akhannouch debuts on the Forbes Billionaires list this year due to his stake in Akwa Group, a multi-billion-dollar Moroccan conglomerate with interests in petroleum, gas and chemicals through its publicly-traded subsidiaries Afriquia Gas and Maghreb Oxygene, as well as in media, real estate development and hotels, according to Frobes magazine.
Edited by Jessica Rohan
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