Moroccan Prime Minister Aziz Akhannouch’s January 2026 announcement that he would not seek a third term as National Rally of Independents leader or contest the September 23, 2026, parliamentary elections has anchored trader expectations of his departure. Under constitutional practice, King Mohammed VI appoints the head of government from the largest party’s leadership after the vote; the party’s February election of Mohamed Chouki as its new president completed the transition and removed any path for Akhannouch’s return absent an improbable reversal. Ongoing voter registration and coalition positioning ahead of the September ballot have not altered this trajectory, leaving only late royal intervention or an unforeseen leadership shift as residual uncertainties that could affect the final outcome before year-end.