At just 31 years old, Mohammed Bouzoubaa embarked on a remarkable journey by founding TGCC in the garage of his home. Today, 35 years later, the stakes he holds in this Moroccan construction giant are valued at approximately $1.6 billion, marking a significant milestone in his entrepreneurial career.
The story of TGCC began in 1991 when Bouzoubaa, after gaining several years of experience in the construction sector, decided to venture out on his own. The official website of TGCC confirms that the company was established in that very year. During its first eight years, the business undertook relatively modest contracts, but in 1999, it marked a turning point by winning the contract for the construction of the Fez Stadium. This pivotal moment set the stage for substantial growth, and by 2010, TGCC surpassed the billion dirham revenue mark for the first time, paving the way for international expansion.
Today, TGCC is involved in some of the most significant construction projects in Morocco. The group has notably contributed to major developments such as the expansion of Terminal 1 at Mohammed V Airport, the Casa-Port train station, the Grand Stadium of Tangier, and the Grand Theatre of Casablanca. The company’s listing on the Casablanca Stock Exchange in December 2021 has allowed for a more accurate assessment of the value of the shares held by its founder.
Valuation of Mohammed Bouzoubaa's Shares
As of August 24, Billionaires.Africa reported that Mohammed Bouzoubaa owns 19,290,816 shares of TGCC, which represents 55.63% of the company's capital, according to data compiled by MarketScreener. With the share price at 775 dirhams, this stake was valued at 14.95 billion dirhams, equivalent to approximately $1.62 billion. However, this figure does not provide a comprehensive estimate of his total wealth, as it only reflects the market value of his TGCC shares, excluding any other personal assets or debts that are not publicly disclosed.
The latest ownership structure published by the Moroccan Capital Market Authority (AMMC) still attributes 60.97% of the capital to Mohammed Bouzoubaa as of December 31, 2025. The figure of 55.63% reported by Billionaires.Africa is based on more current market data that has yet to be reflected in the AMMC's records.
Despite a slight decline in the share price since August 24, the overall valuation remains significant. On September 4, TGCC shares closed at 740 dirhams, according to BMCE Capital Bourse. Based on the recorded 19.29 million shares, Bouzoubaa's stake continues to be valued at 14.28 billion dirhams, or approximately $1.55 billion. This positions him on par with his major competitor, M’hammed Kabbaj, head of SGTM, whose listed shares have also crossed the billion-dollar threshold. Both companies are currently engaged in several major projects, including the upcoming terminal at Mohammed V Airport in Casablanca.
Interestingly, Mohammed Bouzoubaa has yet to appear in global billionaire rankings by Forbes or Bloomberg, but the sheer value of his TGCC stake undeniably places him well above the billion-dollar mark.
As reported by bladi.net.
