Moroccan Billionaire Challenges Fuel Monopoly with Spanish Partnership

Hassan Derham is currently in negotiations with the Spanish company "Cepsa", specialized in the fuel sector, with a view to commissioning 100 stations in several Moroccan cities, before reaching a target of 500 units in the medium term. He thus takes advantage of the expertise of the Spanish company and the advantages granted by the Ministry of Energy and Mines.

As a result, the billionaire would be a serious competitor for the Moroccan Minister Aziz Akhannouch, who holds a monopoly on the fuel market in Morocco. The strong competition produced by the presence of several providers in the market can, theoretically, only benefit the Moroccan consumer.

According to the statements of the Minister of Energy and Mines, Aziz Rebbah, 13 foreign companies, having filed an investment application in the fuel sector in Morocco, have received the principle agreement from the authorities.