Moroccan Minister’s Wealth Ranking Sparks Controversy, Company Denies Forbes Report

The Moroccan economic operator and politician, Aziz Akhannouch, would be at the head of a colossal fortune of $3.5 billion. This information published by Forbes magazine would be unfounded. Saïd El Baghdadi is amazed to read such a thing. "One can only be stunned by the data communicated by Forbes magazine. It is completely absurd to put forward such hazardous and surreal figures, and to have fun in the middle of the crisis context to distribute millions and billions left and right."

He points out that since the beginning of the pandemic crisis, the Akwa group, like many other companies, is going through a difficult phase. Unavoidable in the hydrocarbon market in Morocco, Afriquia has, for example, seen its turnover drop by 50% last April and this drop is cumulative at -20% to date, despite the end of the confinement period, specifies the top manager, while adding that it is the same for the other subsidiaries of the group.

The other businesses of the Akhannouch family are in the same boat these days of COVID-19. "As far as I know, the Aksal group, given its main activity, has also been impacted by this crisis. The Morocco Mall shopping center, despite its reopening, after three months of closure accompanied by non-payment of rents, is experiencing significant declines in its turnover," says the CEO of Afriquia.

For him, one can only be shocked that such insinuations emerge in such a gloomy and delicate economic context. "All the information communicated exceeds us, and we are wondering how an organization that takes itself seriously can let such enormities slip out," he adds.