Aziz Akhannouch: Morocco’s New Billionaire Prime Minister (original) (raw)

Denver – As of Friday, politician and businessman Aziz Akhannouch is Morocco’s new Prime Minister. Akhannouch, who also served as Morocco’s Agriculture minister in successive coalition governments, takes the premiership from Saad Eddine El-Othmani, who held the position for four years via the now former ruling Justice and Development Party (PJD).

After a surprising and overwhelming defeat of the PJD, reactions have been mixed, varying between sighs of relief and cautious optimism as many now wonder in what direction Akhannouch and the National Rally of Independents (RNI) party will take the North African country.

Born in the small town of Tafraout, located in South-Central Morocco, Akhannouch is the son of petroleum mogul Ahmed Akhannouch. The new prime minister’s father is famously known for being the founder of the Afriquia petroleum company, the leading Moroccan fuel distributor now run by the RNI chief.

After obtaining a degree in business management from the University of Sherbrooke in Quebec, Canada, Aziz Akhannouch returned to Morocco to found several companies in varying sectors. Alongside his father, Akannouchlater formed a business conglomerate focused primarily on the petroleum industry.

Prior to being appointed to the position of Prime Minister, Akhannouch was the Chief Executive Officer of the Akwa Group business conglomerate; he also served in the outgoing government as the Minister of Agriculture, Fisheries, Rural Development, Water, and Forest.

Focused on the lucrative oil & gas industry, the Akwa Group quickly became one of the largest business conglomerates in Morocco. In 2020, Forbes ranked Akhannouch as the 12th richest billionaire on the African continent, with a net worth of nearly 2Billion.HemaintainedthatpositioninForbes’latestrankingofMorocco’swealthiestmen,withapersonalwealthnowestimatedtobeexactly2 Billion. He maintained that position in Forbes’ latest ranking of Morocco’s wealthiest men, with a personal wealth now estimated to be exactly 2Billion.HemaintainedthatpositioninForbes’latestrankingofMorocco’swealthiestmen,withapersonalwealthnowestimatedtobeexactly2 billion.

In addition to his successful business ventures, Akhannouch has also dabbled in other fields throughout the country. From 2003-2007, he was president of the Souss-Massa-Draa regional council. He also served on the board of a think tank with the late King Hassan II until 1999.

Currently, Akhannouch is a member of the Board of Directors of the Mohammed VI Foundation for the Protection of the Environment, as well as a member of the Mohammed VI Foundation for the reintegration of prisoners. He currently resides with his wife and three children in the city of Casablanca.

As the leader of the RNI party, Akhannouch has pledged to push for social and economic reform in Morocco.

Believed to have close ties with the royal palace, Akhannouch’s first reaction to his party’s victory in this week’s general elections was the promise that his party “will implement his majesty’s vision” of making Morocco a regional leader in a wide range of fields.