King Mohammed VI: About The Richest King In Africa & His Source Of Income

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King Mohammed VI

Mohammed VI belongs to the  Alaouite dynasty and ascended to the throne on 23 July 1999 upon the death of his father, King Hassan II and is the King of Morocco.

He ascended the throne in July 1999 and immediately set out to initiate a series of socio-political and economic reforms that have made the Kingdom freer and more prosperous than during the reign of his father, King Hassan II.

Mohammed is Morocco’s leading businessman and banker. The Moroccan Royal Family, meanwhile, has one of the largest fortunes in the world. Together, they hold the majority stakes in the Société Nationale d’Investissement (SNI), which was originally state-owned but was merged in 2013 with Omnium Nord Africain (ONA Group), to form a single holding company that was taken off the Casablanca Stock Exchange—resulting in the scrapping of an equivalent of 50 billion Dirhams Marketcap.

SNI has a diverse portfolio consisting of many important businesses in Morocco and operating in various sectors such as; Attijariwafa Bank (banking), Managem (mining), Onapar, SOMED (tourism/real-estate and exclusive distributor of Maserati), Wafa Assurance (insurance), Marjane (hypermarket chain), Wana-Inwi (telecommunications), SONASID (Siderurgy), Lafarge Maroc (cSopriam (exclusive distributor of Peugeot-Citroën in Morocco), Renault Maroc (exclusive distributor of Renault in Morocco) and Nareva (energy).

Mohammed is also a leading agricultural producer and land owner in Morocco, where agriculture is exempted from taxes. His holding company “Siger” has shares in the large agricultural group “Les domaines agricoles”  which was founded by Hassan II.

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