Table of Contents
Key Points
- Moroccan real estate magnate Anas Sefrioui returns to the billionaire ranks with a net worth of $1.7 billion, topping Morocco’s billionaire list.
- Sefrioui’s wealth surge is driven by a $1.23 billion stake in Groupe Addoha, boosted by a 14% rise in the company’s share price.
- Groupe Addoha recently secured $27 million from IFC to build 5,600 affordable housing units in Greater Abidjan, addressing Côte d’Ivoire’s 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 Morocco’s 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 world’s 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.
Sefrioui returns to billionaire ranks
Sefrioui’s return to the billionaire ranks is largely due to the impressive performance of his 64.78 percent stake in Groupe Addoha—equivalent 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 company’s share price. Groupe Addoha, which specializes in housing projects in urban centers such as Casablanca, Ain Aouda, El Jadida, Tetouan, and now Côte d’Ivoire, has seen strong investor confidence, further boosting Sefrioui’s 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 Addoha’s resilience and Sefrioui’s continued influence in Morocco's real estate sector. With strong growth and investor confidence, Sefrioui’s resurgence signals the positive outlook for Africa's growing property market.
Addoha secures $27 million for housing development
In March, Sefrioui, through Addoha CIV—a 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.
The project will include 4,600 homes for middle-income buyers and 1,000 for lower-income families. More than 23,000 people are expected to benefit, easing Côte d’Ivoire’s housing shortage, especially in Abidjan, where rapid population growth and urban migration have worsened the crisis.
Sefrioui expressed the significance of the project, saying, “The partnership with IFC accelerates urban development in the Attecoubé municipality of Locodjoro. This strengthens our commitment to providing high-quality and affordable housing to meet the needs of Ivorian families. Together, we are building a better future.”
