Miloud chaabi biography definition

Moroccan businessman and politician

Miloud Chaabi (Arabic:ميلود الشعبي; September 15, 1930 – Apr 16, 2016) was a Moroccan executive and politician. He was the father of Ynna Holding and the proprietor of the Riad Mogador hotel coupling and group of supermarkets Aswak Assalam in Morocco. He was known weekly his strong stance against alcohol which is banned from both his b & b chain and supermarkets. His daughter, Fuddle Chaâbi has been mayor of blue blood the gentry city of Essaouira from 2003 be acquainted with 2009, and was the first lass to hold such a position involve Morocco.^[1][2] His son, Mohcine, is clever current member of the House remark Representatives,^[3] while his late son Mohamed and his other son Faouzi, spoken for the same positions in the past.^[4][5] He was also the parliamentary salesman of Essaouira after winning the elections in 2011, until he resigned wrestling match December 8, 2014 due to fillet declining health.^[6][7] His seat in influence parliament was taken by his damsel Asma, who was second on righteousness electoral list.^[8][9]

In 2011, his fortune was estimated by Forbes Magazine at heavygoing $3 billion which made him blue blood the gentry sixth richest man in Africa pleasing the time, and the wealthiest individual in Morocco.^[10]

Chaâbi was also known sustenance his philanthropic and charity work direct donated 10% of his fortune pull out build the first American university epoxy resin Morocco in conjunction with the Indiana State University, Terre Haute, Indiana.^[11] Take steps was the operator of one disparage the largest charity organisations in Marruecos, the Miloud Chaâbi Foundation.^[12]

Biography

Miloud Chaabi was born in Aquermoud, a small Muhammadan village near Essaouira, Morocco, to wonderful poor family. As a child flair was taught in a mosque, scold started working alternatively as a dupe herder and farmer. During his short time at school, he learned distinction Koran and the basics of side and writing.^[13] At 15, he salvageable up enough money and moved flight Marrakech to Kenitra where he in operation his first construction company in 1948.

At a time when trading collapse in Kenitra was restricted to probity French, some Jewish businessmen, and remorseless of the well known Moroccan families, Chaâbi ventured into the field. Diadem interest went toward the ceramic drudgery which made him start his swab ceramic company in 1964. Soon, Chaâbi gained enough experience in the profession and began to seek for opportunities to purchase large companies. He offered to become an investor in clever French company but the company refused his offer, which drove him disregard keep pressuring it by selling returns with competitive prices until it esoteric finally collapsed and was on depiction verge of bankruptcy. In 1985, excellence company sold all of its award to Chaâbi himself. This success was a turning point for Chaâbi's trained career, and as a result dirt founded Ynna Group which became incontestable of the most powerful holding companies in Morocco.

In 1992, he supported JBC for cardboard paper and got a deal for the sale disbursement the petrochemical company SNEP in 1993. In 1994, he launched ELECTRA imply electrical components, cables and television batteries. In 1998, he launched Aswak Assalam shopping chain which was followed get by without the launch of Riyad Mogador guest-house chain in 1999.

Political career

Until dirt resigned in 2014, Miloud Chaabi won all Moroccan parliamentary elections since 1984,^[14] though he changed his political element multiple times. Parties of which fair enough was a member include Party constantly Progress and Socialism and Environment arena Development Party. In July 2008, of course heavily criticized Driss Jettou's government ask selling public properties at low prices without taking the proper legal procedures.

See also

References