Early Life
Othman Benjelloun was born in 1932 in Fez, Morocco, into a prominent family. While details of his childhood are limited, his family's involvement in the insurance industry introduced him to the world of finance at a young age. He pursued his education in Europe, studying engineering at the École Polytechnique Fédérale de Lausanne in Switzerland.
Rise to Success
After completing his studies, Benjelloun returned to Morocco and began his career in the banking sector. He took over an insurance company from his father, RMA Watanya, and transformed it into a leading insurer. He expanded into the banking industry with BMCE Bank, which is now present in at least 20 African countries after acquiring the Mali-based Bank of Africa. Benjelloun established strategic alliances with major international companies like Volvo and General Motors.
Key Business Strategies
Benjelloun's strategic acquisitions and expansion of BMCE Bank across Africa demonstrate his focus on regional growth. Under his leadership, BMCE Bank has become a major player in the Moroccan and West African financial sectors. He also invested in telecommunications through his holding company FinanceCom, with a stake in the Moroccan arm of French telecom firm Orange.
Philanthropy
Benjelloun and his wife have been recognized for their philanthropic efforts, particularly through the Bank of Africa Foundation, which supports education in rural areas and environmental preservation. The foundation has been active since 1995, promoting education in rural areas for the benefit of poor children and the preservation of the environment.
