Rabat – Morocco’s head of government Aziz Akhannouch, and business tycoon Othman Benjelloun have featured yet again in the list of the richest individuals in the Middle East from wealth-oriented American magazine Forbes.
In its latest ranking, Aziz Akhannouch and family ranked in the 22nd place with a net worth of $1.7 billion.
At age 63, Akhannouch is the majority owner of the Akwa Group, a multibillion-dollar conglomerate that was founded by his father and a partner, Ahmed Wakrim, in 1932.
The group manages a large portfolio of assets and interest in petroleum, gas, and chemicals through two publicly traded enterprises Afriquia Gaz and Maghreb Oxygen.
While he has been a politician for over two decades, Akhannouch was appointed as the head of the government of Morocco in September 2021.
He kicked off his political career in 2003, presiding over the Council of the Souss-Massa-Draa Region until 2007. He was also a member of the think tank of the late King Hassan II until 1999, and a member of the Board of Directors of the Mohammed VI Foundation for Environmental Protection.
Akhannouch was also a managing member of the Mohammed VI Foundation for the Reintegration of Prisoners.
The Forbes list equally featured Othman Benjelloun and his family at the 25th place. At the age of 91, Benjelloun is currently the CEO of BMCE Bank of Africa, which has an extensive presence in more than 20 African countries.
Benjelloun’s father was a shareholder in RMA, one of the first insurance companies in Morocco, which he later turned into a leading insurer on the national level.
Operating mainly in finance and investments, Benjelloun owns stakes in the Moroccan arm of French telecom firm Orange through his holding company FinanceCom.
In 2014, he announced plans to invest a sweeping half a billion in the 55-story Mohammed VI Tower in capital Rabat. Once completed, the structure will be among the tallest buildings on the continent.
Read Also: Morocco’s Akhannouch, Benjelloun on Forbes’ List of Richest Individuals in Africa
