Top 10 richest people in Morocco

Key Points

• Morocco’s wealthiest individuals are transforming the economy, driving growth in sectors like real estate, finance, energy, and pharmaceuticals.
• Real estate moguls like Anas Sefrioui and Alami Lazraq are shaping Morocco's housing and luxury markets, with major projects across Africa.
• Key figures like Othman Benjelloun and Aziz Akhannouch are expanding Morocco's financial and energy sectors, solidifying the country's influence in Africa.

Morocco, strategically positioned between the Atlantic Ocean and Mediterranean Sea, is home to a new wave of entrepreneurs, business magnates, and financial giants whose wealth and influence are transforming the country's economy.

From industrial leaders to banking magnates and forward-thinking entrepreneurs, these individuals are driving growth across key sectors, including real estate, finance, energy, pharmaceuticals, and consumer goods. Their investments are not only boosting Morocco's GDP but are also creating jobs, modernizing infrastructure, and expanding the country’s economic footprint across Africa.

In the real estate sector, Anas Sefrioui’s Addoha Group has been at the forefront of affordable housing and urban development, making a significant contribution to Morocco’s economic growth. As the nation continues its urbanization, real estate remains a vital sector supporting the country's rise. At the same time, Alami Lazraq’s Alliances Développement Immobilier is reshaping luxury living and hospitality, cementing Morocco’s position as an attractive destination for global investors.

In banking and finance, Othman Benjelloun is a key figure, with BMCE Bank of Africa and RMA Assurance helping to fuel domestic capital growth while extending Morocco's financial influence across the continent. Similarly, Mohamed Hassan Bensalah and Miriem Bensalah Chaqroun’s Holmarcom group plays a pivotal role in Morocco’s financial sector, with diverse interests in banking, insurance, and agribusiness, strengthening the country's economic foundation.

Aziz Akhannouch’s Akwa Group stands as a dominant force in Morocco’s energy sector, with one of the largest oil and gas conglomerates in the region, while Lamia Tazi’s Sothema strengthens the country’s position in the pharmaceutical industry, contributing to both local healthcare and medical manufacturing. Entrepreneurs like Said Alj, Ali Wakrim, and Salwa Idrissi Akhannouch are also influencing the fast-moving consumer goods (FMCG) and retail sectors, making Morocco a prominent player in Africa’s manufacturing and retail landscape.

These business leaders are not only shaping Morocco’s economy but also playing a significant role in Africa's broader economic transformation. Through strategic investments and regional expansions, Moroccan firms are making considerable strides in West and Central Africa, enhancing the country’s stature as an economic powerhouse.

Initiatives like BMCE Bank's financing of infrastructure projects in Côte d'Ivoire and Akwa Group’s energy solutions across the Sahel highlight the vital role these entrepreneurs are playing in Africa’s integration and growth.

Billionaires.Africa’s list of the top 10 wealthiest individuals in Morocco underscores the profound impact these moguls have. Their collective investments are driving innovation, fostering regional development, and solidifying Morocco’s place as a leading force in Africa’s economic future.

1. Anas Sefrioui

Net Worth: $1.6 billion | Sector: Real estate

Anas Sefrioui is the founder and CEO of Groupe Addoha, Morocco’s leading homebuilder, with a strong footprint in low-cost housing developments. After an eight-year absence from Africa’s billionaire ranks, Sefrioui made a striking comeback in 2024, reclaiming his spot as Morocco’s wealthiest individual. His 64.78 percent stake in Groupe Addoha—amounting to 260.7 million shares—has surged in value, pushing his net worth to $1.6 billion. Sefrioui first attained billionaire status in 2012 with a $1.6 billion fortune but saw his wealth decline below the billion-dollar mark in 2017 due to market downturns. His resurgence has been driven by a rise in Addoha’s stock price, reflecting investor confidence in Morocco’s real estate sector. Under his leadership, the company has expanded beyond Morocco, with notable projects in Côte d’Ivoire, including a $27 million International Finance Corporation-backed initiative to build 5,600 affordable homes in Greater Abidjan. The son of a plaster manufacturer, Sefrioui entered the real estate industry in the 1980s, capitalizing on Morocco’s demand for social housing. His success has been closely tied to government-backed housing contracts, which have fueled Groupe Addoha’s growth. His daughter, Kenza Sefrioui, serves as deputy chairman of the company, reinforcing the family’s influence in the business.

2. Othman Benjelloun

Net Worth: $1.6 billion | Sector: Banking, Insurance

Othman Benjelloun is the chairman and CEO of BMCE Bank of Africa, a financial powerhouse operating in over 20 African countries. Through his holding company, O Capital Group, he controls stakes in banking, insurance, telecommunications, and real estate. His financial empire includes RMA Watanya, one of Morocco’s largest insurers, and a significant stake in Orange Maroc, a leading telecom provider. Benjelloun spearheaded BMCE Bank’s transformation into a pan-African financial giant after acquiring Bank of Africa, helping the institution reach a market capitalization of $4.44 billion. His influence extends into international banking circles, serving on the boards of the Union of Arab Banks and the World Union of Arab Bankers. Beyond finance, he developed the $500 million, 55-story Mohammed VI Tower in Rabat, one of Africa’s tallest buildings, and holds major stakes in Compagnie de Transports au Maroc (CTM), a key player in Morocco’s transport sector. A longtime philanthropist, he co-founded the Benjelloun-Meziane Foundation in 1967, funding education and cultural heritage projects across Morocco. Born into a business family, he studied at the École Polytechnique Fédérale de Lausanne in Switzerland before expanding his father’s insurance holdings into a diversified business empire. Today, he remains Morocco’s second-richest man, shaping the country’s economic landscape.

3. Aziz Akhannouch

Net Worth: $1.5 billion | Sector: Diversified

Aziz Akhannouch is the majority owner of Akwa Group, a multibillion-dollar Moroccan conglomerate with interests in petroleum, gas, chemicals, retail, real estate, tourism, and media. Founded by his father and a partner in 1932, the company has grown into a powerhouse under his leadership. He controls key publicly traded subsidiaries, including Afriquia Gaz, a dominant player in Morocco’s liquefied petroleum gas market, and Maghreb Oxygene, a leading industrial and medical gas provider. In 2021, Akhannouch was appointed Morocco’s prime minister after serving 14 years as Minister of Agriculture, where he led reforms that boosted exports and modernized the sector. He is the wealthiest investor on the Casablanca Stock Exchange and advocates for foreign investment, infrastructure development, and digitalization. His portfolio extends beyond Akwa Group, with stakes in Total Mauritania, real estate projects like Résidences Place Des Zaers, and luxury hospitality through Hôtel Fairmont Taghazout Bay. A philanthropist, his company contributed $103.5 million to Morocco’s COVID-19 pandemic fund.

4. Alami Lazraq

Net Worth: $661.57 million | Sector: Real estate

Alami Lazraq is the founder and chairman of Groupe Alliances, Morocco’s leading real estate development company. Established in 1994, the firm has grown into a major player in North Africa’s property sector, building hotels, luxury residences, and large-scale housing projects. Groupe Alliances has expanded its focus to middle- and low-income housing, competing with Moroccan billionaires Miloud Chaabi and Anas Sefrioui. Through its publicly traded subsidiary, Alliances Développement Immobilier (ADI), the company is also expanding into Ivory Coast and Senegal. Lazraq started his career in government before joining ONA, Morocco’s largest conglomerate, which was controlled by the royal family. His 51.7 percent stake in ADI currently worth $661.57 million after a downturn in the company’s stock, erasing $52.22 million in value in just 19 days.

5. Moulay Hafid Elalamy

Net Worth: $400 million | Sector: Insurance

Moulay Hafid Elalamy is the founder and chairman of Saham Group, Morocco’s largest insurance company, and a major player in Africa’s financial and industrial sectors. Under his leadership, Saham grew from a small insurance firm into a diversified powerhouse with operations spanning insurance, banking, healthcare, and outsourcing services. In 2018, Elalamy sold Saham’s insurance arm, Saham Finances, to South Africa’s Sanlam for $1.05 billion, solidifying his status as a prominent entrepreneur. He began his career in Canada, gaining expertise in finance and information systems before returning to Morocco, where he founded Saham Group in 1995. His strategic expansions and partnerships, including a joint venture with Othman Benjelloun’s FinanceCom in 2015, helped Saham thrive across Africa. Elalamy also served as Morocco’s Minister of Industry and Commerce from 2013 to 2021. A visionary leader, Elalamy’s influence extends beyond business, with a significant role in reshaping Morocco’s economy. In 2022, he led a major acquisition of Société Générale Marocaine de Banques and La Marocaine Vie, further cementing his position in banking and insurance. His recent appointment as chairman of Teleperformance marks his growing international presence.

6. Ali Wakrim

Net Worth: $250 million | Sector: Energy

Ali Wakrim co-owns Akwa Group, one of Morocco’s largest energy conglomerates, alongside billionaire Aziz Akhannouch. His father, Ahmed Wakrim, partnered with Akhannouch’s father to establish Afriquia Gaz in 1959, laying the foundation for what would become a dominant player in Morocco’s energy sector. Wakrim serves as chairman of Afriquia Gaz, a leading liquid petroleum gas distributor, and vice president of Akwa Group, which also controls chemical manufacturer Maghreb Oxygene. Under his leadership, Afriquia Gaz reported $400 million in revenues in 2014, with his estimated fortune now surpassing $250 million. His younger brother, Jamal Wakrim, chairs Petrodis, another key subsidiary within the group.

7. Said Alj

Net Worth: $163.24 million | Sector: Retail & Luxury

Said Alj founded Sanam Holding in the 1980s and built it into one of Morocco’s most influential conglomerates, with operations spanning agribusiness, real estate, distribution, and manufacturing. As of 2023, his 79.79 percent stake in Unimer Group, a leading canned food manufacturer listed on the Casablanca Stock Exchange currently worth MAD1.57 billion($163.24 million). Through Zalar Holding, a subsidiary of Sanam, he controls one of Morocco’s largest poultry producers, overseeing an integrated supply chain from animal feed to food processing. His real estate investments include luxury hotels, commercial properties, and residential developments, while his retail and industrial ventures extend into packaging, chemicals, and consumer goods distribution. Despite maintaining a low public profile, Alj’s business empire plays a pivotal role in Morocco’s economy, contributing to job creation and sectoral modernization. His influence is particularly strong in agribusiness, where Zalar Holding has helped modernize Morocco’s poultry industry and secure the country’s food supply chain.

8. Lamia Tazi

Net Worth: $100 million | Sector: Healthcare

Lamia Tazi leads Morocco’s pharmaceutical industry as the CEO and Chairperson of Société de Thérapeutique Marocaine (Sothema), the country’s largest drug manufacturer with a market valuation of MAD8.2 billion($851.61 million). Under her leadership, the company produces 60 million pharmaceutical units annually and operates 35 global laboratories. Tazi owns an 8.19 percent stake in Sothema, valued at $65 million. In 2023, she spearheaded the launch of the first Galenic development and clinical studies platform in Africa and the Middle East, reinforcing her commitment to pharmaceutical innovation. Beyond Sothema, she oversees several companies, including Advanced Scientific Developments, West Afric Pharma, Azerys, Axess Pharma, and Leiden Pharma. Her influence in the industry earned her a spot at No. 33 on Forbes’ 2025 100 Most Powerful Women list.

9. Salwa Idrissi Akhannouch

Net Worth: $100 million | Sector: Retail & Luxury

Salwa Idrissi Akhannouch founded Aksal Group in 2004, transforming it into Morocco’s dominant retail and luxury goods conglomerate. The group holds exclusive franchise rights for 45 global brands, including Gucci, Fendi, Zara, and Sephora, shaping the country’s high-end shopping landscape. In 2011, she spearheaded the development of Morocco Mall, a $250 million project and Africa’s second-largest shopping center, spanning 70,000 square meters. Akhannouch has expanded Aksal’s footprint across multiple sectors, launching subsidiaries in digital retail, cosmetics, and real estate. In 2017, she launched Yan&One, Morocco’s first homegrown smart beauty brand. Aksal’s ventures also include Label’Vie, one of Morocco’s leading supermarket chains, and AKSAL Developments, which focuses on innovative real estate projects. Beyond business, she leads the AKSAL Foundation, supporting education, women’s empowerment, and social development. Born into a family of entrepreneurs, she is the granddaughter of Haj Ahmed Belfiqih, a prominent Moroccan tea trader. Recognized among Forbes Middle East’s "100 Most Powerful Businesswomen," Akhannouch is one of Morocco’s most influential business figures, driving growth in retail and luxury across Africa.

10. Mohamed Hassan Bensalah

Net Worth: $50 million | Sector: Diversified

Mohamed Hassan Bensalah is the chairman and CEO of Holmarcom Group, a Moroccan conglomerate with operations spanning finance, agro-industry, logistics, and real estate across six African countries. He took over the group in 1993 following the death of his father, founder Abdelkader Bensalah. Under his leadership, Holmarcom expanded its footprint in financial services, culminating in the 2022 acquisition of a 78 percent stake in Crédit du Maroc from Crédit Agricole. The group also controls three publicly traded firms: Les Eaux Minérales d'Oulmès, AtlantaSanad Assurance, and Crédit du Maroc. Beyond Holmarcom, he holds key board positions at BMCI (BNP Paribas Group), CIH Bank (CDG Group), and the Casablanca Stock Exchange. A major figure in Morocco’s insurance sector, he serves as president of the Moroccan Federation of Insurance and Reinsurance Companies. Decorated as a Knight of the Order of the Throne by King Mohammed VI in 2004, Bensalah is also a board member of the Mohammed VI Foundation for the Protection of the Environment and the Economic, Social and Environmental Council. He studied management and finance at the Sorbonne and l’Ecole des Cadres de Paris.