Othman Benjelloum named richest man in Morocco
Moroccan billionaire Othman Benjelloun was ranked first in Morocco in Forbes’ 2016 list of the richest people in the Arab world. With a fortune estimated at more than $1.9 billion, the Moroccan businessman and investor also ranked as the 19th richest people in the Arab world, despite his fortune regressing by around $400 million.
Othman Benjelloun owns the Paris-based holding company FinanceCom, which invests in different African countries including Nigeria, South Africa and Ghana. Benjelloun is also the owner of BMCE Bank, one of the largest banks in Morocco and Africa, as well as the insurance company RMA Watania.
Morocco’s Minister of Agriculture and Fisheries, Aziz Akhannouch, ranked second after Benjelloun in Forbes’ list this year with a fortune estimated at $1.3 billion. Akhannouch, who came in the 28th position in the Arab world, operates in different vital sectors such as oil, gas and chemical product manufacturing.
Miloud Chaabi, the former Moroccan self-made billionaire who died last April, was not featured in this year’s Forbes ranking.
The American magazine’s ranking for the entire Arab world names its 32 wealthiest people. The Saudi Prince Walid Ibn Talal Al Saud came first with a fortune that decreased to $17.3 billion this year. In 2015’s ranking, the Saudi Prince’s net worth was estimated by Forbes at around $22.6 billion.
