While Poverty in Morocco Increases, Forbes Magazine Reports Prime Minister Akhannouch’s Wealth Surges by $200 Million in One Year
BY: Hana Saada
ALGIERS- Forbes, the magazine specialized in tracking the wealth of the world’s richest individuals, has released its annual ranking of the richest personalities in Africa.
The ranking showed an increase in the wealth of Aziz Akhannouch, according to the American magazine, from $1.5 billion in 2023 to $1.7 billion in January 2024, an increase of $200 million, placing him 14th among Africa’s wealthiest.
Forbes presented Aziz Akhannouch as the majority owner of the “Akhannouch Group” and an investor in the oil and gas sector and chemicals through the company “Morocco Oxygen.”
As for Othman Benjelloun, the CEO of “Bank of Africa” in Morocco, who ranked 15th in Africa, his wealth increased from $1.3 billion in 2023 to $1.4 billion in the new ranking.
This happens at a time when Moroccans are suffering from the exorbitant cost of basic commodities, and the economic and social crisis continues due to the low economic growth rates, which do not exceed 2% at best. Inflationary pressures persist, eroding the purchasing power of ordinary Moroccan citizens, and unemployment rates remain high.
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