Page 106 - SGH PR REPORT - MARCH 2024

3/25/24, 1:33 PM Forbes Middle East Reveals The Top 100 Arab Family Businesses 2024 - برﻌﻟا لﺎﻣﻋﻷا داور ﺔﺻﻧﻣ | ﻲﺑرﻋ تﻧإ
For instance, Morocco’s O Capital Group was founded in 2021 when Holding Benjelloun

Mezian merged with FinanceCom in the same year.

In contrast, Oman-based Towell Group is the oldest family business in the ranking, with roots

dating back to 1866.

Backing sustainable operations with substantial capital has been a consistent priority for

several of the 2024 listees. For example, AlNowais Investments Group has over 1,230MW of
clean energy projects in Africa, Burkina Faso, Egypt, Jordan, Morocco, and Togo, either in

operation or under construction.

Meanwhile, Alfardan Group signed an MoU with Electronics Recycling Factory to develop

environmental sustainability and encourage e-waste recycling in June 2023.

Similarly, the Safari Group and the Knauf Group agreed in December 2023 to invest in and

build a new state-of-the-art plasterboard production facility that will significantly reduce

energy and water consumption.

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