BNP Paribas Reaffirms Commitment to Morocco Amid African Restructuring

In a statement, BNP Paribas reiterated its intention to remain in Morocco and to support the kingdom in various development projects. "The French group took the opportunity to announce the pivotal role the country plays in IT management at the continental level," reports Bourse News.

The rumors began to circulate following the group’s disengagement from seven African countries, namely Burkina Faso, Mali, Guinea, Senegal, Tunisia, Côte d’Ivoire and South Africa, and the appointment of a former Attijariwafa bank executive as head of the BNP Paribas board in Morocco in December last year. "In Africa, we have adopted a targeted strategy and continue to strengthen ourselves where the market characteristics correspond well to our strengths and the desired conditions in terms of development and risk management," BNP Paribas explained in France in March.