Morrocan Billionaire Othman Benjelloun: How He Started
Othman Benjelloun was born in Rabat, Morocco. He received a degree in engineering from the École Centrale de Lyon in France and later studied economics at the Sorbonne in Paris. After completing his studies, Benjelloun returned to Morocco and began his career in the banking sector.
He worked for various banks in Morocco before eventually founding BMCE Bank of Africa in 1972. The bank has since become one of the leading financial institutions in Morocco and West Africa, with operations in more than 20 countries across the continent. Benjelloun has served as the chairman of BMCE Bank of Africa for more than four decades and has played a key role in its growth and success.
Othman Benjelloun made his fortune from the banking industry and a series of investments in insurance, telecommunications, and real estate. He has also served as the chairman of Meditelecom and has connections to Telefónica and Portugal Telecom.
He is a member of the World Union of Arab Bankers. These positions may involve managing and overseeing the operations of these companies and organisations, making strategic decisions, and representing them in various capacities.
Moroccan billionaire Othman Benjelloun’s international pan-African banking conglomerate, Bank of Africa (BoA), is planning to increase its stake of the Moroccan Islamic banking organisation Bank Al-Tamweel Wa Al-Inma S.A. (BTI).
As part of its plan to leave Morocco’s capital market, Bahraini investment firm Al Baraka Group (ABG) announced that the Central Bank of Bahrain has approved the sale of 43.65 percent of its ownership in BTI to BoA, a major Moroccan banking group.
The transaction, which is currently awaiting regulatory approval from Morocco’s capital market regulators, is in line with BoA’s strategic goals to boost profitability and revenue while strengthening its regional presence.
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