In April 2026, Morocco’s competition authority approved a landmark deal: Cap Holding, led by Chakib Alj, acquired a 68% stake in Forafic Agro Holdings Limited, a subsidiary of Forafic Global. Yariv Elbaz, the majority shareholder, stepped back from the helm of this industrial powerhouse, redirecting his focus toward high-stakes sectors such as artificial intelligence, drone technology, and air defense systems.
Once a prominent figure in Morocco’s financial circles, Elbaz has evolved into a key player bridging economic ambitions with diplomatic interests. His career reflects a calculated pivot from traditional finance to cutting-edge industries, positioning him at the nexus of Morocco’s evolving economic landscape.
From finance to strategic industries: a bold transition
Yariv Elbaz’s journey began in Morocco’s financial sector, where he built a reputation as a shrewd investor and entrepreneur. His early ventures laid the groundwork for a diversified portfolio, but his recent strategic shift signals a deliberate move toward sectors critical to national and regional development.
The divestment from Forafic Agro Holdings Limited marks a turning point. Forafic Global, under Elbaz’s leadership, had established itself as a major player in Morocco’s industrial sector. However, the decision to sell his majority stake—while retaining influence—demonstrates a forward-looking approach. By reallocating resources into artificial intelligence, drone technology, and defense systems, Elbaz is aligning his investments with Morocco’s long-term economic and security priorities.
These sectors are not only financially lucrative but also strategically vital. Morocco’s push to modernize its infrastructure, enhance agricultural efficiency, and bolster national security has created a fertile ground for innovation-driven ventures. Elbaz’s move reflects a keen understanding of these trends, positioning him as a visionary entrepreneur rather than a conventional investor.
A bridge between Morocco, Israel, and the United States
Elbaz’s influence extends beyond Morocco’s borders. His career has been marked by deep engagement with international stakeholders, particularly in Israel and the United States. This cross-border connectivity has not only enriched his professional network but also positioned him as a facilitator of economic and diplomatic ties.
In an era where economic diplomacy plays a pivotal role in shaping geopolitical alliances, Elbaz’s ventures serve as a testament to the growing importance of private sector leadership in fostering international cooperation. His ability to navigate complex regulatory environments and forge strategic partnerships underscores his role as a pivotal figure in Morocco’s evolving economic narrative.
The man behind the strategy: Yariv Elbaz’s rise to prominence
While Elbaz remains a relatively discreet figure in public discourse, his impact on Morocco’s economic landscape is undeniable. His career trajectory—from finance to high-tech industries—reflects a relentless pursuit of innovation and strategic foresight. Unlike many entrepreneurs who consolidate their gains within a single sector, Elbaz has consistently sought opportunities that align with broader economic and technological advancements.
His decision to divest from Forafic Agro Holdings Limited and reinvest in artificial intelligence and defense technologies signals a bold bet on Morocco’s future. By focusing on sectors poised for exponential growth, Elbaz is not only securing his legacy but also contributing to the country’s economic resilience and global competitiveness.
What’s next for Yariv Elbaz?
The future holds immense possibilities for Elbaz. As Morocco continues to prioritize technological innovation and economic diversification, his ventures are likely to play a crucial role in shaping the country’s industrial and strategic landscape. Whether through new investments, partnerships, or policy advocacy, Elbaz’s influence is set to grow, cementing his status as a visionary entrepreneur with a global footprint.
The transition from finance to high-stakes industries is not without challenges, but for Yariv Elbaz, it represents an opportunity to redefine his legacy and contribute to Morocco’s journey toward economic modernization and global relevance.
