Tunisian Ben Yedder Family Loses More Than $5 million in 2 Months

The market value of the affluent Tunisian Ben Yedder family’s holding in Ennakl Automobiles has fallen by more than $5 million in the last 64 days, while shares in the Tunis-based automaker have fallen by single-digit percentage points.

The family’s stake’s market value has dropped as a result of recent gloomy emotions on the Casablanca bourse, as investors continued to liquidate shares on the stock exchanges.

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Ennakl shares on the Casablanca market have fallen 9.58 percent from MAD35.39 ($3.631) on May 16, 64 days ago, to MAD32.0 ($3.287) at the time of writing, as a result of these bearish influences.

The 9.58-percentage-point reduction in the group’s share price lowered the family’s shareholding in Ennakl’s market value by MAD52.95 million ($5.44 million), from MAD552.80 million ($56.75 million) on May 16 to MAD499.85 million ($51.31 million) at the time of writing this report.

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Despite a recent $5.44-million drop in the market value of the family’s joint stake in Ennakl, the Ben Yedder family remains one of the wealthiest families not only in Tunisia, but also in the wider Middle East and North African region, thanks to extensive investments in critical enterprises.

Ennakl is a Tunisian auto dealer specializing in Volkswagen, Audi, Seat, and Porsche vehicles. The company is led by Tunisian executive Abdellatif Hmam and is majority-owned by the ultra-rich Ben Yedder family, who own 53.3 percent.

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Aside from Ennakl Automobiles, the family holds a substantial stake in Amen Bank, a private sector bank based in Tunis, Tunisia’s capital and largest city.

Amel Ben Yedder, Nabil Ben Yedder, Karim Ben Yedder, Wassim Ben Yedder, Hakim Ben Yedder, Halim Ben Yedder, and Rasheed Ben Yedder are members of the Yedder family.

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