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Rabat – Morocco’s Economy and Finance Minister Nadia Fettah Alaoui has been featured on Forbes’ prestigious “50 Over 50” list for the Middle East and North Africa.
The recognition comes as a testament to her remarkable journey from working in private equity to becoming Morocco’s first female Minister of Economy and Finance.
While Fettah joined politics in 2019, her journey began in the world of finance, where she initially gained recognition as the founder and manager of Maroc Invest Finances Group, a Casablanca-based private equity company, established in 2000, according to Forbes Afrique.
Born in 1971 in Rabat, Fettah comes from a notable family. Her father, Mohamed Fettah, who passed away in 2016, was the Minister of Mines and Energy and later the CEO of the Office Chérifien des Phosphates (OCP).
Proud of her roots, Fettah is a product of the Moroccan public school system. She completed all her classes in Morocco before joining HEC Paris, according to Forbes.
After finishing her studies in 1994, she returned to Morocco to work at the Arthur Andersen audit firm in Casablanca.
She then moved into insurance and joined the AfricInvest investment fund. In 2005, her trajectory took a turn: she decided to follow Moulay Hafid Elalamy, founder of the CNIA insurance company (which later became Saham), as the CEO responsible for support and finance.
This signaled the start of Saham’s conquest of Africa, and in 2010, while it was the third-largest insurance company in Morocco, it expanded into eleven new countries.
Read also: Nadia Fettah Alaoui, Leading the Moroccan Economy
Thanks to a series of mergers and acquisitions led by Fettah, Saham became a true continental giant, bringing together in 2017 35 insurance companies in 26 African countries as well as 3,000 employees and millions of clients.
After serving as the Deputy CEO of Finance, Nadia Fettah Alaoui led the negotiations preceding the sale of Saham Finances to the South African group Sanlam, for over a billion dollars (€920 million).
The masterstroke propelled her to the executive committee of Sanlam Emerging Markets, as she was appointed CEO of Sanlam Pan Africa. She also became the Deputy CEO of Saham Assurances, then the Chairperson of the Board of Saham Assurances Morocco.
Another crowning achievement came in 2018 at the Africa CEO Forum when she was elected CEO of the Year in Abidjan. A prominent figure in business, NFA is now a remarkable identity whose reputation precedes her even within the royal palace.
When she joined politics in 2019, Fettah initially assumed the role of Morocco’s Minister for Tourism and Social Economy.
The appointment marked the first time a woman held such a position in the country.
In October 2021, Nadia Fettah Alaoui was appointed at the helm of the Ministry of Economy and Finance in the government led by Prime Minister Aziz Akhannouch.
Her nomination was met with widespread acclaim, with many hailing her analytical prowess in understanding Morocco’s relations with external institutions.
