 | |
| Company type | Société anonyme |
|---|---|
| Founded | 1932 (1932) |
| Founder | Ahmed Ouldhadj Akhannouch Haj Ahmed Wakrim |
| Headquarters | , Morocco |
Key people | |
| Revenue |  $3 billion |
| Owners | Akhannouch and Wakrim |
| Subsidiaries |
|
| Website | akwagroup.com |
Akwa Group is a privateMoroccanconglomerate founded and owned by the Akhannouch and Wakrim families, from whom the group takes its name. The group operates in several key sectors of theMoroccan economy, includinghydrocarbons, distribution, tourism, media, real estate, and renewable energy.
It is known for its fuel brandAfriquia, its gas brand Afriquia Gaz, as well as for owning media outlets such asLa Vie éco.[1] It also holds shares in Maghreb Oxygène and the Fairmont Taghazout Bay hotel.[2] Akwa Group has also entered theclean energy sector throughGreen of Africa, a joint venture established in 2015 withO Capital Group.[3]
The company was incorporated in 1959 as Afriquia SMDC (Société Marocaine de Distribution de Carburants) which is now a subsidiary of Akwa Group. 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 subsidiariesAfriquia Gaz andMaghreb Oxygène were publicly listed in 1999. Groupe Afriquia changed its name to Akwa Group in March 2002.[4]
Afriquia fuel stations were targeted in the2018 Moroccan boycott.[5]
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