© Photomontage - Illustration: Julien Pacaud; Han Jiajun/IC photo/AFP, New York Forum Africa/Richard Attias & Associates

In Focus | Morocco
The incessant fall of flour milling company Forafric

Subscribers only By Alexia Van Rij

Published on 07.07.2025 at 04:40 GMT 8 min read Lire en français

Ten years after Forafric was bought by Franco-Moroccan financier Yariv Elbaz, the group is fighting for survival. Its strategy of investing across the board, combined with opaque management, has plunged the company into debt that has reached alarming levels.

The Moroccan flour milling company Forafric, a once-thriving heavyweight of the kingdom's agri-food industry, has lost its shine and is now deep in crisis.

Franco-Moroccan businessman Yariv Elbaz, who controls the strategic company in Morocco and sub-Saharan Africa (AI, 21/02/25), may be close to the palace of King Mohammed VI, former Gabonese president Ali Bongo and, allegedly, US President Donald Trump, but he is struggling to stem the downward spiral that now threatens his group's survival.

Despite

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In Focus | Morocco
The incessant fall of flour milling company Forafric

Ten years after Forafric was bought by Franco-Moroccan financier Yariv Elbaz, the group is fighting for survival. Its strategy of investing across the board, combined with opaque management, has plunged the company into debt that has reached alarming levels.

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About Africa Intelligence

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Indigo Publications' websites

In Focus | Morocco The incessant fall of flour milling company Forafric

Ten years after Forafric was bought by Franco-Moroccan financier Yariv Elbaz, the group is fighting for survival. Its strategy of investing across the board, combined with opaque management, has plunged the company into debt that has reached alarming levels.

This article may be accessed by subscribers

Do you want a free trial before subscribing?

Create your free account

create a free account

Related topics to this article

Read also

Morocco Tycoon Chakib Alj broadens reach in grains market

Morocco Forafric sale revived after Alj, Elbaz and Crédit Agricole strike deal

Morocco Swiss grain trader Millcorp scrambles to stay afloat after Forafric drops out

Morocco Businessman Chakib Alj restarts Yariv Elbaz's old mills for Ramadan

Spotlight | Morocco Big wig businessman Chakib Alj comes to the rescue of Forafric

Morocco Yariv Elbaz's grain trading company and cooperative Copag part ways

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About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

In Focus | Morocco
The incessant fall of flour milling company Forafric

Morocco
Tycoon Chakib Alj broadens reach in grains market

Morocco
Forafric sale revived after Alj, Elbaz and Crédit Agricole strike deal

Morocco
Swiss grain trader Millcorp scrambles to stay afloat after Forafric drops out

Morocco
Businessman Chakib Alj restarts Yariv Elbaz's old mills for Ramadan

Spotlight | Morocco
Big wig businessman Chakib Alj comes to the rescue of Forafric

Morocco
Yariv Elbaz's grain trading company and cooperative Copag part ways

Spotlight | Morocco
The enigmatic businessman targeted by the Emirati sovereign fund

Morocco
To bail out Forafric, Yariv Elbaz calls on his trading company

Spotlight | Morocco
The under-the-radar businessman connected to Israeli arms firms

In Focus | Gabon
The secrets behind the FGIS, a sovereign wealth fund set adrift

Morocco
New business council with UK reels in prominent stakeholders

Morocco
The 'comeback' expansion of Agadir desalination plant

Inner Circle | Morocco
Inside the empire of ultra-discreet Moroccan tycoon Yariv Elbaz

Morocco
Troubled Forafric owner Yariv Elbaz turns to his old CEO

Africa
Trump's Africa task force takes shape

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Elbaz opens up Forafric's capital to Trumpists and Kazakh oligarch Machkevitch via Nasdaq listing

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Amid Ramadan demand surge, grain trader Millcorp supplies Morocco via Switzerland

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In Focus | Gabon
How Ycap became the Gabonese sovereign fund's favorite asset manager