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MOROCCO

'Red prince' Moulay Hicham hopes to mend royal fences for the sake of his businesses

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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. [...]
Prince Moulay Hicham, King Mohammed VI's cousin.
Prince Moulay Hicham, King Mohammed VI's cousin. © Macao/Reuters
Long-time regime critic Prince Moulay Hicham, whose renewable energy projects have fizzled, wants to improve his relations with the kingdom, where he owns land and a very profitable agricultural estate. [...] (651 words)
Issue dated 29/01/2021 Reading time 3 minutes

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