Key Factors
- Moroccan actual property magnate Anas Sefrioui returns to the billionaire ranks with a internet value of $1.7 billion, topping Morocco’s billionaire checklist.
- Sefrioui’s wealth surge is pushed by a $1.23 billion stake in Groupe Addoha, boosted by a 14% rise within the firm’s share worth.
- Groupe Addoha just lately secured $27 million from IFC to construct 5,600 inexpensive housing items in Larger Abidjan, addressing Côte d’Ivoire’s housing scarcity.
After an eight-year absence from the unique checklist of African billionaires, Moroccan actual property magnate Anas Sefrioui has made a powerful return to the ranks of the continent’s wealthiest people. His newest wealth estimates place him on the high of Morocco’s billionaire checklist, surpassing Prime Minister Aziz Akhannouch and banking tycoon Othman Benjelloun.
With a internet value of $1.7 billion in keeping with Forbes, Sefrioui, founding father of the Casablanca-based actual property group Douja Promotion Addoha (Groupe Addoha), now ranks because the world’s 1,954th richest individual. This locations him forward of Benjelloun, the CEO of BMCE Financial institution of Africa, who has a $1.6 billion internet value, and PM Akhannouch, whose internet value has dropped from $2 billion in 2022 to $1.5 billion as of this report.
Sefrioui returns to billionaire ranks
Sefrioui’s return to the billionaire ranks is basically as a result of spectacular efficiency of his 64.78 p.c stake in Groupe Addoha—equal to 260,772,702 extraordinary shares. This stake has surged to $1.23 billion, gaining over $150 million for the reason that begin of the 12 months, pushed by a 14 p.c enhance within the firm’s share worth. Groupe Addoha, which makes a speciality of housing tasks in city facilities corresponding to Casablanca, Ain Aouda, El Jadida, Tetouan, and now Côte d’Ivoire, has seen sturdy investor confidence, additional boosting Sefrioui’s fortune.
First acknowledged as a billionaire in 2012, with an estimated internet value of $1.6 billion, Sefrioui’s fortune dipped beneath the billion-dollar threshold in 2017 on account of market setbacks. His return to the billionaires’ checklist highlights each Groupe Addoha’s resilience and Sefrioui’s continued affect in Morocco’s actual property sector. With sturdy progress and investor confidence, Sefrioui’s resurgence indicators the constructive outlook for Africa’s rising property market.
Addoha secures $27 million for housing improvement
In March, Sefrioui, via Addoha CIV—a subsidiary of Groupe Addoha—secured a $27 million loan from the Worldwide Finance Company (IFC) to construct 5,600 inexpensive housing items in Larger Abidjan.
The mission will embody 4,600 houses for middle-income consumers and 1,000 for lower-income households. Greater than 23,000 individuals are anticipated to learn, easing Côte d’Ivoire’s housing scarcity, particularly in Abidjan, the place fast inhabitants progress and concrete migration have worsened the disaster.
Sefrioui expressed the importance of the mission, saying, “The partnership with IFC accelerates city improvement within the Attecoubé municipality of Locodjoro. This strengthens our dedication to offering high-quality and inexpensive housing to satisfy the wants of Ivorian households. Collectively, we’re constructing a greater future.”
