On Saturday, October 14, 2023, Moroccan billionaire Aziz Akhannouch officially stepped down from his role as Prime Minister after five years of leadership, marking a significant transition in the nation's governance. He passed the reins to Fatima Ezzahra El Mansouri, who has made history as the first woman to lead a Moroccan government. The handover ceremony took place at the Prime Minister's office in Rabat, where both leaders discussed key initiatives and ongoing projects, including social programs, economic strategies, and the management of public administration. This exchange was framed within the context of King Mohammed VI's directives, emphasizing continuity and progress in governance.
In a heartfelt message shared on his social media channels later that day, Akhannouch expressed gratitude to King Mohammed VI for his trust and guidance during his tenure. He described the experience of leading the government as a profound honor, conveying a sense of pride and integrity as he concluded his term. Acknowledging that not all of his aspirations had been realized, he reflected on his time in office with a mix of satisfaction and unfulfilled goals, wishing El Mansouri and her cabinet every success in their upcoming endeavors.
Akhannouch, aged 65, is known as the controlling shareholder of the Akwa Group, a prominent Casablanca-based conglomerate established by his father in 1932. Under his stewardship, the Akwa Group has diversified its operations, with its Afriquia brand operating Morocco's largest network of fuel stations, alongside interests in liquefied petroleum gas, industrial gases, media, and real estate. With a personal fortune estimated at around $1.6 billion, Akhannouch stands as the second-wealthiest individual in Morocco, trailing only banker Othman Benjelloun.
A New Era of Governance
El Mansouri's cabinet, which consists of 32 members, was sworn in by King Mohammed VI on Friday at the Royal Palace in Rabat. The new government convened for its inaugural meeting immediately following the handover. El Mansouri is scheduled to present her government's agenda to a joint session of the two houses of parliament on Monday, where it will require approval from the House of Representatives to be formally invested. This cabinet represents a coalition of El Mansouri's Authenticity and Modernity Party (PAM), the nationalist Istiqlal Party, the Socialist Union of Popular Forces, and the Party of Progress and Socialism, collectively holding a majority in the 395-seat House of Representatives.
Notably, Akhannouch's National Rally of Independents, which had governed following their victory in the 2021 elections, is now positioned in opposition after finishing second in the recent elections with 66 seats, a significant decrease from the 102 seats held previously. In a bid for continuity, several ministers from Akhannouch's administration have retained their positions, including Foreign Minister Nasser Bourita and Interior Minister Abdelouafi Laftit, while Fouzi Lekjaa has been elevated to the role of Minister of Economy and Finance.
From Agriculture to Leadership
Akhannouch's political career began in the agricultural sector, where he served as Minister of Agriculture from 2007 to 2021 before his appointment as Prime Minister in September 2021. Upon taking office, he committed to stepping away from all management roles within the family business, demonstrating a clear separation between his governmental responsibilities and private interests. However, his tenure was not without controversy; challenges arose regarding the intersection of his public office and family business dealings, particularly when Afriquia stations faced a consumer boycott in 2018, and rising fuel prices became a focal point of public discontent in 2022. In response to parliamentary inquiries regarding a lucrative contract awarded to a consortium involving Afriquia Gaz for the construction of a desalination plant in Casablanca, Akhannouch defended the transparency of the bidding process, asserting that it adhered to open tender protocols and did not receive state subsidies.
As the political landscape evolves, Akhannouch announced earlier this year that he would not pursue a third term as the leader of his party nor seek re-election in the upcoming legislative elections, stating, "Leadership is not an inheritance." His departure from the party leadership was officially marked by the ascension of Mohamed Chaouki as his successor in February, heralding a new chapter in Moroccan politics.
As reported by billionaires.africa.
