Moroccan billionaire Anas Sefrioui is facing a sharp decline in the value of his investment in Douja Promotion Groupe Addoha after a month-long slide on the Casablanca stock exchange. Since Nov. 3, the market value of Sefriouis stake has fallen by 134.91 million, reflecting renewed pressure on one of Moroccos most closely watched real estate stocks.
Sefrioui, who founded the company and remains its majority shareholder, holds 64.78 percent of Addoharoughly 260.8 million shares. While he remains one of Africas wealthiest business figures, the recent downturn has reduced the value of his holdings to 1.03 billion, down from 1.16 billion in early November.
Weak trading follows short-lived recovery
