Africa’s richest royal family gains $432 million from Attijariwafa Bank stake

Key Points

• Morocco’s royal family gains $431 million from Attijariwafa Bank stake surge, lifting their total holding to over $7.2 billion through investment firm Al Mada.
• Attijariwafa Bank stock jumps 18% year-to-date, attracting investor confidence on strong earnings and Morocco’s economic reforms.
• Bank’s market cap hits $15.6 billion, reinforcing its status among Africa’s top five most valuable financial institutions.

The Alaouite royal family of Morocco, widely regarded as Africa’s richest royal family, has seen a substantial increase in its fortune, thanks to a sharp rise in the share price of Attijariwafa Bank on the Casablanca Stock Exchange. The rally has added $431 million to the market value of the family’s stake in the bank.

The family owns an indirect 46.5-percent stake in Attijariwafa Bank—about 100.1 million shares—through Société Nationale d’Investissement (also known as Al Mada). In just under three months, the value of this holding has climbed by MAD4 billion ($431.3 million), lifting its estimated worth to more than $7 billion. The gains further cement the family’s place among the richest royal households in the world.

Royal family’s stake grows with Attijariwafa

This latest increase follows an earlier $618 million gain between January and early February, when the stake’s value rose from MAD56.98 billion ($5.67 billion) to MAD63.19 billion ($6.29 billion). The ongoing growth in the bank’s share price highlights both the royal family’s strong presence in Morocco’s financial system and the resilience of its broad investment strategy.

Investors have been steadily buying into Attijariwafa Bank, drawn by the company’s strong financial results and optimism around Morocco’s economic reforms. That confidence has helped lift the bank’s stock, delivering solid returns—particularly for large institutional investors like Al Mada.

$430 million gain for Moroccan royals

Attijariwafa Bank, headquartered in Rabat, is not just the biggest bank in Morocco, it’s also among the top five most valuable banks in Africa. With a workforce of over 20,000 people across 25 countries, it serves around 10 million customers, ranging from individuals to large corporations.

Over the past 78 days, its share price has climbed 6.32 percent, rising from MAD633 ($68.33) on March 12 to MAD672.90 ($72.64). That increase has lifted the bank’s market capitalization to around $15.6 billion, rewarding shareholders with strong returns.

For the Moroccan royal family, the gains have been even more meaningful. The value of their stake has risen from MAD63.39 billion ($6.84 billion) in mid-March to MAD67.38 billion ($7.27 billion) today, an increase of more than $430 million in just under three months. 

Bank delivers 18% year-to-date gain

So far this year, Attijariwafa Bank’s stock is up 18.26 percent. A $100,000 investment in the bank’s shares at the start of 2025 would be worth $118,260—a gain of more than $18,000 in just five months. The strong return reflects investor faith in the bank’s performance and its continued appeal on the local exchange.