Forbes magazine has just released a new ranking for the Middle East. Among the 100 companies mentioned, four are founded and run by Moroccan families.
Titled “100 most powerful Arab family businesses in the Middle East 2020”, this ranking from Forbes magazine includes four Moroccan companies. These are Akwa, FinanceCom, Diana Holding and Holmarcom.
At the top of the Moroccan ranking and the 25th position at the regional level, we find the Akwa group led by Aziz Akhennouch. Founded in 1959, the family business includes ten companies, including Afriquia Gaz, which has one of the largest gas storage capacities in Morocco, the magazine said.
The 38th place is occupied by the company FinanceCom founded and directed by its billionaire Othman Benjelloun. “With various investments in the banking, real estate, insurance and telecommunications sectors,” said Forbes. The holding company is also in charge of the construction of what will be the tallest tower in Africa, the Mohammed VI tower. This is in addition to his participation in the project to build a “multi-billion dollar technological city in Tangier which should house 200 Chinese companies,” said Forbes.
Further on, in 83rd place, we find Diana Holding founded by Brahim Zniber in 1956. Chaired by Rita Maria Zniber, the holding’s field of activity includes agriculture, breeding, poultry farming, trade and the distribution. The company has a composting platform with a production capacity of 10,000 tonnes per year, writes Forbes.
A few places further on, the Holmarcom group, founded by Abdelkader Bensaleh in 1978, holds 88th place. “His businesses are in finance, real estate, agro-industry, distribution and logistics. Two companies are listed on the Casablanca Stock Exchange: Les Eaux Minéraux d’Oulmès and Atlanta Assurances”, notes Forbes, also recalling the group’s presence in Africa.
At the top of the ranking, the Egyptian group Mansour, the UAE group Al-Futtaim and the Saudi group Olayan form the top three of the most powerful Arab family businesses in the Middle East in 2020.