Salwa Idrissi Akhannouch is a leading figure in Morocco’s business world and a key player in the development of the North African retail industry. As the founder and CEO of Aksal Group, she has built a company that dominates Morocco’s luxury, retail, and shopping mall sectors, contributing to the country’s economic growth and labour force.
Aksal Group, which Akhannouch founded in 2004, has secured exclusive franchise rights for 45 global brands, including Zara, Gucci, Ralph Lauren, and Fendi. These partnerships have made luxury products and international fashion accessible to Moroccan consumers. The company attracts approximately 15 million visitors annually and generates an estimated turnover of $514 million.
One of her most notable achievements is the Morocco Mall, a 10-hectare shopping and entertainment centre in Casablanca. The mall opened in 2011 and is one of Africa’s most extensive and key tourist destinations. Its construction, which cost over $240 million, helped elevate Morocco’s status in the global retail market. The mall’s unique blend of shopping, leisure, and cultural experiences represents Akhannouch’s vision for modern retail spaces.
Aksal Group’s success goes beyond luxury retail. The company employs over 3,000 people and continues to expand its reach with new projects.
Recently, it made a corporate expansion and innovation statement about expanding its latest innovative project across three Moroccan locations.
“The AKSAL group is proud to announce its new era of major development: a series of three projects of smart lifestyle social shopping downtown in three key Moroccan locations: Marrakech, Rabat, and Bouskoura. These projects are designed to embrace the new intertwining of physical and digital retail. These technology-enhanced, beautifully designed spaces will redefine “retail therapy,” the company wrote. This $235 million investment aims to create 5,000 jobs and includes plans for a sustainable urban lifestyle hub.
Akhannouch’s contributions are not limited to retail and development. She is also committed to digital transformation. Through Aksal Digital, the company has embraced omni-channel solutions to enhance the shopping experience for tech-savvy consumers. Additionally, Aksal Cosmetics, which includes her brand Yan&One, focuses on beauty products tailored to Moroccan and international customers.
Her work has not been without criticism. Akhannouch’s business achievements have sparked public discussions about wealth distribution and market competition. For example, Morocco’s new import tariffs on online purchases have raised concerns among consumers, with some suggesting the changes could direct more business toward local companies like Aksal Group. Despite these criticisms, Salwa Idrissi Akhannouch continues to focus on expanding her business and contributing to Morocco’s economy.
The CEO has also encouraged education and youth empowerment. The Aksal Academy, founded in 2011, offers retail and mall management programs, preparing individuals for industry careers. This initiative has helped many young people find employment and build skills for the future.
As one of North Africa’s wealthiest female entrepreneurs, Salwa Idrissi Akhannouch has made significant strides. Her ability to combine business growth with social initiatives has positioned her as a key player in Morocco’s development. Her work shapes the country’s economic landscape, from creating jobs to promoting sustainability and modernizing retail.
Through Aksal Group’s diverse projects and initiatives, the businesswoman is driving change in Morocco’s retail sector, offering opportunities for growth and innovation and leaving a lasting impact on the industry.
