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MOROCCO

Moulay Rachid casts himself as aviation industry's business angel following Boeing deal

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“Makhzen Inc. or the ever more prosperous business empire of Mohammed VI's entourage”
MOROCCO

Makhzen Inc. or the ever more prosperous business empire of Mohammed VI's entourage

Mohammed VI's private holding company Al Mada is not the only one of its kind! Although Al Mada plays an ever more important role in the Moroccan economy, other members of the royal family are battling for leading roles in an increasing number of different economic sectors, including property, tourism, higher education and even aviation. The king's private secretary, Mounir el-Majidi, who also heads Al Mada, is notmissing out either. He has built up a little telecommunications empire, while members of his clan have gone into construction and security, often as sub-contractors to the companies of the royal family. [...]
Morocco's Prince Moulay Rachid.
Morocco's Prince Moulay Rachid. © Thierry Monasse/Pool via REUTERS
Prince Moulay Rachid, the brother of Mohammed VI, is looking to open up his MAIC fund, set up to finance the creation TDM Aerospace, to Moroccan institutional investors with a view to expanding subcontracting opportunities with Boeing and Airbus. [...] (911 words)
Published on 18/03/2021 at 05:00 GMT Reading time 4 minutes
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