The project's delays and cost overruns have left many local businesses struggling, and the city's infrastructure has suffered as a result. The scandal has also damaged the city's reputation, with many tourists canceling their trips to Agadir due to concerns about the project's viability.
In 2010, Belguel was awarded a lucrative contract by the Moroccan government to develop a large-scale tourism project in the city of Agadir. The project, which was dubbed "Tourism Hub Agadir," aimed to transform the city into a major tourist destination, with the construction of several hotels, resorts, and other tourist infrastructure.
However, it soon became apparent that something was amiss with the Belguel project. Despite receiving significant government funding and support, the project was plagued by delays, cost overruns, and allegations of corruption. It was alleged that Belguel's management had embezzled millions of dirhams in government funds, which were meant to be used for the development of the tourism project.
In 2015, the Moroccan authorities launched an investigation into the Belguel scandal, which was led by the country's National Financial and Economic Crimes Prosecution Office (ONAFCE). The investigation revealed a trail of corruption and deceit that went all the way to the top of the Moroccan government and business elite.
The Belguel scandal has had a significant impact on the city of Agadir, which was meant to benefit from the tourism project. The city's residents have been left to pick up the pieces of a project that was meant to transform their city into a major tourist destination.
Several high-ranking government officials, including a former minister of tourism, were implicated in the scandal and arrested on charges of corruption and embezzlement. Belguel's management, including Said Belguel himself, were also arrested and charged with a range of crimes, including money laundering, tax evasion, and corruption.
In 2018, the Moroccan government announced that it would be launching a major overhaul of its tourism sector, in an effort to prevent similar scandals from occurring in the future. The government also announced plans to strengthen its anti-corruption laws and enforcement mechanisms.
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