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This surge not only solidifies his position among the leading investors on the Casablanca bourse but also reaffirms his standing as one of Morocco’s wealthiest individuals.
Notably, the bank’s shares on the Casablanca Stock Exchange recently saw a 3.31-percent increase, climbing from MAD480.5 ($47.752) on Jan. 29 to MAD496.4 ($49.33).
Khalil owns a majority stake of 58.1 percent in Raya Holding, holding a total of 1,245,661,205 shares in the group.
Ezz owns 60.7 percent of Ezz Steel, which translates to 329,816,198 shares in the steel behemoth.
Ahmed El-Sewedy and his siblings, Sadek and Mohammed, hold a beneficial stake of 68.1 percent in the company, equivalent to a total of 1,478,358,330 ordinary shares.
This downturn — which translates to an average daily loss of $8.16 million since the start of the year — is linked to the slump in the market value of his industrial assets in Europe and Africa.
The Khamis family, one of Egypt’s wealthiest families, presently holds a majority stake in Oriental Weavers, a leading carpet manufacturer with a global presence.
Presently, the Ghabbour family holds a 62.9-percent stake in GB Corp, solidifying their status as prominent investors on the Egyptian Exchange.
OneTech’s remarkable growth over the years owes much to the vision of Sellami, its founder, who established the firm in 1978.
Sawiris suggests that aligning with the spiraling black market rate is imperative to address the chronic foreign currency shortage plaguing the nation.
Essayeh holds a 33.6-percent stake in the bike maker, which translates to 3,293,136 ordinary shares.
Despite the plunge in his fortune, Mansour still ranks as one of Africa’s richest billionaires.
Berzi, who founded the consumer goods conglomerate in 1996 owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
The $100-million decline in his net worth is linked to the revaluation of his holdings in Akwa Group, a diverse Moroccan conglomerate with substantial oil and gas interests.
The recent surge solidifies his position as one of the high-value investors on the Egyptian Exchange and one of the country’s wealthiest individuals.
Under the leadership of Allam, Hassan Allam Holding has been making strides in the engineering and construction sectors for more than eight decades.