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| Description: Net Worth: $3.1 BILLION Industry: Financial Services Country of Citizenship: Morocco Age: 83 Number of Jobs Created: 21,026 Morocco’s richest man, Othman Benjelloun, controls significant assets in banking, finance and insurance through FinanceCom, his holding company. Benjelloun sits at the helm of BMCE Bank, a $5 billion company with over 500 branches in 12 countries including Morocco, China, France, Germany, the Netherlands and the United Kingdom. In 1949, Othman Benjelloun’s father, Haj Abbas Benjelloun, co-founded Royale Marocaine d’Assurances (RMA). In 1988, Othman purchased RMA for $300 million and transformed it into RMA Watanya, the Kingdom’s largest insurer. In 1995 he acquired Banque Marocaine du Commerce Exterieur (BMCE) during the country’s privatisation exercise. His private holding company, FinanceCom, manages approximately $15 billion in assets. At 82 years of age, Othman, an engineer by training, still plans to conquer Africa by building a pan-African financial hub. |
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