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Akwa Group

Akwa Group S.A.
Company typeSociété anonyme
Founded1932 (1932)
FounderAhmed Ouldhadj Akhannouch
Haj Ahmed Wakrim
Headquarters
Casablanca
,
Morocco
Key people
Aziz Akhannouch
Ali Wakrim
Jamal Wakrim
RevenueIncrease $3 billion
OwnersAkhannouch and Wakrim
Websitewww.akwagroup.com

Akwa Group S.A. is a conglomerate company headquartered in Casablanca.

The company is active in oil and gas (Afriquia, Afriquia Gaz, Tissir Gaz, Maghreb Oxygène), retail (Mini-Brahim), tourism (Société d’Aménagement et de Promotion de la Station Taghazout, Hôtel Fairmont Taghazout Bay), the media (La Vie économique, Aujourd'hui le Maroc, Femmes du Maroc, Nissae Min Al Maghrib) and real estate (Résidences Place Des Zaers).

Akwa Group is owned by the Akhanouch and Wakrim families.

History

The company was incorporated in 1959 as Afriquia SMDC (Société Marocaine de Distribution de Carburants) which is now a subsidiary of Akwa Group S.A. The other major subsidiary, Maghreb Oxygène, was established in 1974. The corporate structure was reorganized in 1990s by creation of the holding company Groupe Afriquia. Its subsidiaries Afriquia Gaz and Maghreb Oxygène were publicly listed in 1999. Groupe Afriquia changed its name to Akwa Group in March 2002.[1]

Afriquia fuel stations were targeted in the 2018 Moroccan boycott.[2]

References

  1. ^ "Akwa Group SA". Bloomberg Businessweek. Archived from the original on June 4, 2013. Retrieved 2012-09-22.
  2. ^ "Morocco consumer boycott has big business in its sights". Reuters. 2018-05-30. Retrieved 2023-02-20.
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