Bank of Africa chairman Othman Benjelloun manages a financial empire with a net worth estimated at US$1.5 billion as of July 2024. A career banker, engineer, and entrepreneur, he expanded his operations from Moroccan insurance markets into a multinational enterprise operating across at least 12 African countries, maintaining a presence in sectors ranging from telecommunications to automotive alliances.
Early Education and Professional Beginnings
Born in 1932 in Fez, Morocco, Benjelloun pursued higher education at the Swiss Federal Institute of Technology in Lausanne between 1952 and 1959. His academic background includes time at lycée Georges-Clemenceau. In the 1960s and 1970s, his professional activities centered on developing strategic partnerships with international automotive manufacturers, specifically Volvo and General Motors.
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Benjelloun assumed control of his father's insurance firm in 1988, subsequently developing it into RMA Watanya. This foundation allowed him to transition into the banking industry. He transformed BMCE Bank—now known as Bank of Africa—into a major multinational financial group. The bank maintains headquarters in Luxembourg and Dakar, with its origins tracing back to Mali. This banking component of his portfolio has achieved a market capitalization valuation of $4 billion.
Telecommunications and Organizational Affiliations
Beyond finance, he holds the position of chairman at Meditelecom. His involvement in telecommunications extends to associations with Portugal Telecom and Telefónica. He actively participates in international industry organizations, serving as a member of the World Union of Arab Bankers and the Union of Arab Banks.
Recognitions and Personal Life
His professional service has earned him several decorations, including Commander of the National Order of the Lion, Officer of the Order of the Throne, and Commander of the Order of the Polar Star. In 2022, he received the title of Best African Personality. Benjelloun was married to Leila Mezian until her death in July 2024 and has two children, Kamal Benjelloun and Dounia Benjelloun.
Fast facts
- Born: 1932, Fez
- Citizenship: Morocco
- Education: Swiss Federal Institute of Technology in Lausanne
- Net worth: US$1.5 billion (July 2024)
- Positions held: President, CEO
- Primary business: Bank of Africa
- Languages: French, English
- 2022 Award: Best African Personality
Questions readers ask
What is the scope of Othman Benjelloun's banking business?
His banking enterprise encompasses Bank of Africa, which operates in at least 12 countries across the African continent.
Which international companies has he worked with?
During his career, he formed alliances with General Motors, Volvo, Telefónica, and Portugal Telecom.
Achievements
- Commander of the National Order of the Lion
- Commander of the Order of the Polar Star
- Officer of the Order of the Throne
- Educated at Swiss Federal Institute of Technology in Lausanne and lycée Georges-Clemenceau
