Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Billionaires Africa | 27.04.2026 17:16
Forafric Global PLC, the Nasdaq-listed Moroccan flour miller that produces semolina, pasta and couscous under the Maymouna and Tria brands, announced on April 23 that it intends to pivot toward "artificial intelligence, aerial drones, anti-drone laser applications and advanced defence technologies." The announcement arrived 3 days after Morocco's Competition Council formally authorised the sale of control of the company's main Moroccan operating subsidiary to Cap Holding, the conglomerate belonging to Chakib Alj, the president of Morocco's national employers' federation. It arrived almost exactly 1 year after Forafric's auditors told the world they had serious doubts about whether the company could continue to exist.
