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Morocco Emerges as Key Economic Player in Africa, Report Finds
Sunday 5 December 2021, by
Morocco has all the assets to become an indispensable player in Africa, according to a report by BBC World News that praises the merits of the kingdom on the continent.
Under the impetus of King Mohammed VI, Morocco has set up Casablanca Finance City (CFC) to attract Moroccan companies to Africa, notes BBC News in a report broadcast as part of the "Focus On Africa" program. This free zone, created in 2010 in the form of a public-private partnership, aims to attract foreign investment to then direct it towards Africa in order to contribute to the development of the continent through the establishment of South-South cooperation.
To read: Morocco Tops African Business Climate Ranking in Latest CIAN Barometer Survey
Morocco has already invested more than $4.3 billion in sub-Saharan Africa, making it the second largest intra-African investor, the report notes, also highlighting the academic and technical cooperation established by Morocco with other African countries. African students and young entrepreneurs testify in this report that they have thrived in Morocco and that "countries from all over the world want to invest in Morocco".
To read: Spanish Investors Eye Morocco as Government Eases Entry for Foreign Professionals
According to the BBC, Morocco is one of the countries that has most improved its business climate and its ability to attract foreign investment, moving from 130th to 55th place over the past two decades in the World Bank’s Doing Business report.
"Morocco’s economic development is now passing through greater integration with sub-Saharan African countries. And with the establishment of the African Continental Free Trade Area (AfCFTA), the Kingdom has all the cards in hand to be an indispensable player on the continent," the report concludes.