Rabat – Morocco’s current Head of Government and billionaire Aziz Akhannouch has yet again made Forbes’s 2024 list of Africa’s richest individuals alongside Moroccan businessman Othman Benjelloun.
Released last month, the ranking places Akhannouch 14th richest individual on the continent, with a net worth of $1.7 billion. Meanwhile, Othman Benjelloun claimed the 15th place with a net worth totaling $1.4 billion.
Akhannouch, who became head of government in September 2021, is the primary shareholder of Akwa Group, a vast conglomerate established by his father and business partner, Ahmed Wakrim, back in 1932.
The conglomerate boasts investments in petroleum, gas, and chemicals, primarily represented by publicly traded companies like Afriquia Gaz and Maghreb Oxygene.
Between 2022 and 2023, his network took a hit as it shrunk from $2 billion to the current $1.5 billion. Forbes placed him at 1,905th of the world’s richest individuals in the world by the end of 2023.
The current real-time ranking of the world’s richest by Forbes puts Akhannouch in the 1,781th place as of February 6.
Morocco’s second-richest individual, Othman Benjelloun, ranks in the real-time ranking as the 2,063rd richest individual in the world as of February 6. This is a marked increase from the end of 2023 when Forbes placed him at 1,233rd.
Benjelloun is at the helm of one of the country’s largest banking groups BMCE Bank of Africa. He oversees its operations spanning across more than 20 African nations.
His father held shares in RMA, a prominent Moroccan insurance company, which Benjelloun transformed into a leading insurer.
In addition, through his holding company FinanceCom, he holds interests in the Moroccan division of the French telecommunications firm, Orange.
In 2014, he initiated a $500 million project to construct the Mohammed VI Tower in Rabat, a 55-story skyscraper poised to become one of Africa’s tallest buildings.
At 91 years old, speculations are rampant surrounding who will be next to fill his place at the head of the family fortune.
Read Also: Forbes: Two Moroccans Among Africa’s 20 Billionaires
