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| Description: Estimated net worth: $2 billion Source: Investments His Majesty King Mohammed VI of Morocco is the wealthiest monarch in Africa. He derives his fortune from his control of Société Nationale d’Investissement (SNI), a large Moroccan investment holding company with assets valued at more than $10 billion. SNI’s largest asset is a 48% stake in Morocco’s largest bank, Attijariwafa, as well as controlling stakes in mass distribution giant Marjane Holding; mining company Managem Group and mobile telecoms company Inwi. The King also owns a substantial chunk of the world’s phosphate reserves. King Mohammed VI, the 27th king of the Alaouite dynasty, ascended the throne in July 1999 and immediately set out to initiate a series of socio-political and economic reforms that have made the Kingdom freer and more prosperous than during the reign of his father, King Hassan II. In 2014, the King introduced a new family law giving women legal equality with men in key areas; his economic strategy has led to the creation of new industrial zones which in turn has given a boost to the number of global industrial corporations setting up shop in Morocco. On the political front, he has enacted a series of reforms to the country’s constitution, including amendments that stripped him of some of his political powers. |
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