Anas Sefrioui Surpasses Akhannouch And Benjelloun To Become Morocco's Richest Man

Moroccan real estate magnate Anas Sefrioui returns to the billionaire ranks with a net worth of 1.7 billion, topping Moroccos billionaire list.

Sefriouis wealth surge is driven by a 1.23 billion stake in Groupe Addoha, boosted by a 14 rise in the companys share price.

Groupe Addoha recently secured 27 million from IFC to build 5,600 affordable housing units in Greater Abidjan, addressing Cte dIvoires housing shortage.

After an eight-year absence from the exclusive list of African billionaires, Moroccan real estate magnate Anas Sefrioui has made an impressive return to the ranks of the continent's wealthiest individuals. His latest wealth estimates place him at the top of Moroccos billionaire list, surpassing Prime Minister Aziz Akhannouch and banking tycoon Othman Benjelloun.

With a net worth of 1.7 billion according to Forbes, Sefrioui , founder of the Casablanca-based real estate group Douja Promotion Addoha Groupe Addoha, now ranks as the worlds 1,954th richest person. This places him ahead of Benjelloun, the CEO of BMCE Bank of Africa, who has a 1.6 billion net worth, and PM Akhannouch, whose net worth has dropped from 2 billion in 2022 to 1.5 billion as of this report.

Sefriouis return to the billionaire ranks is largely due to the impressive performance of his 64.78 percent stake in Groupe Addohaequivalent to 260,772,702 ordinary shares. This stake has surged to 1.23 billion, gaining over 150 million since the start of the year, driven by a 14 percent increase in the companys share price. Groupe Addoha, which specializes in housing projects in urban centers such as Casablanca, Ain Aouda, El Jadida, Tetouan, and now Cte dIvoire, has seen strong investor confidence, further boosting Sefriouis fortune.

First recognized as a billionaire in 2012, with an estimated net worth of 1.6 billion, Sefrioui's fortune dipped below the billion-dollar threshold in 2017 due to market setbacks. His return to the billionaires list highlights both Groupe Addohas resilience and Sefriouis continued influence in Morocco's real estate sector. With strong growth and investor confidence, Sefriouis resurgence signals the positive outlook for Africa's growing property market.

In March, Sefrioui, through Addoha CIVa subsidiary of Groupe Addoha secured a 27 million loan from the International Finance Corporation IFC to build 5,600 affordable housing units in Greater Abidjan.