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Head of Government Aziz Akhannouch and top banker Othman Benjelloun continue to maintain their positions among the world’s wealthiest billionaires, according to Forbes.
Akhannouch’s net worth reached $1.6 billion as of today, representing a slight increase of $0.61 million, or 0.04%.
He secured the 1999th position in the Forbes world ranking for 2024, also ranking 14th in Africa.
Akhannouch is the majority owner of Akwa Group, a multibillion-dollar company founded by his father and a partner.
The company has interests in gas, chemicals and petroleum through two companies: Afriquia Gaz and Maghreb Oxygène.
Forbes also presented data on Akahnnouc’s wealth history, showing that the peak time for his net worth was recorded in 2018 with$2.2 billion.
The lowest point was recorded in 2020, where his wealth reached $1 billion.
Benjelloune, who is the CEO of BMCE Bank of Africa, ranked 2112th in the new Forbes report, with a net worth amounting to $1.5 billion.
The bank has a presence in over 20 African countries, and Benjeelloune’s family also holds a stake in RMA, an insurance company in Morocco.
Forbes also recalled Benjelloune’s $500 million investment in the 55-story Mohammed VI Tower in Rabat– one of the tallest buildings on the continent.
The magazine’s indicators show that Benjelloune’s real time net worth witnessed a 0.24% increase or an addition of $3 million to his wealth.
Unlike Akhannouch, whose wealth fluctuated over the years, Benjelloune’s wealth peaked in 2014, with $2.8 billion.
The lowest indicator was recorded in both 2022 and 2023, when his net worth stagnated to $1.3 billion.
The indicator has since slightly increased to reach $1.5 billion as of today. Benjelloun is also among Africa’s wealthiest individuals, ranking 15th on the list.
Akhannouch has recently been subject to sharp criticism from the opposition, including PJD, which has been calling on him to step down as Prime Minister.
“To be honest, this time, I don’t see how Mr. Aziz Akhannouch can continue as head of government,” former Head of Government Abdelilah Benkirane said.
Benkirane, who also leads PJD, urged Akhannouch to “step down and let Morocco breathe for the next two years.”
A few years ago, Akhannouch was also subject to heavy criticism from Moroccan citizens due to inflation and high costs for necessary commodities.
He is now facing another wave of criticism for alleged conflict of interest, particularly from PJD, which accused his business of having ties with a desalination deal.
PJD argues that his involvement in the project undermines transparency and fairness, as they claim his company Afriquia Gaz is benefiting from a deal that may have been influenced by his political position.
Read Also: Conflict of Interest? Akhannouch Faces Backlash Over Desalination Deal
