Moroccan PM’s Wife Faces Backlash Over Billionaire Status in African Retail

Forbes places Salwa Akhannouch among the 100 most powerful businesswomen in the MENA region in 2023. She is also among the 7 top billionaires in retail trade in Africa. This is due to her considerable impact on the continent’s retail sector and the role she has played in the evolution of the retail industry.

The wife of the Moroccan Prime Minister is the founder of the AKSAL Group. Today, the company has more than 1,000 employees and is the sole franchisee of 45 major brands in Morocco, including Emporio Armani, Fendi, Gucci, Oysho, Ralph Lauren, Zara, Banana Republic, Massimo Dutti, Pull & Bear, and Gap. In 2011, Salwa Akhannouch inaugurated the Morocco Mall, a vast 10-hectare commercial and entertainment complex. The shopping center has not only enhanced Morocco’s reputation in retail, but has also made a significant contribution to tourism revenue.

Following the publication of Billionaires Africa, many Moroccans have expressed their discontent. They accuse Salwa Akhannouch of taking advantage of Moroccan legislation to maximize profits. "Of course she is [one of the biggest billionaires in retail trade in Africa]... when the laws are made to maximize your profit, it’s no surprise," fumes a Moroccan social media user angrily. This discontent is partly explained by the decision taken by the government in 2022 to impose new import duties on online purchases made from abroad. This is the adoption by the Council of Ministers of draft decree No. 2.22.438 amending decree No. 2-77-862 of 25 Shawwal 1397 (October 9, 1977), taken for the application of the Customs Code and indirect taxes under the responsibility of the Customs and Indirect Taxes Administration.

In a press release, the ADII had announced that from July 1, 2022, all purchases made on international e-commerce platforms, regardless of their value, would have to pay import duties and taxes, including VAT, and that the 1,250 dirham (125 dollar) franchise would be abolished. A decree that had raised concerns among Moroccans.