Casablanca, the “Moroccan Wall Street”, attracts entrepreneurs and multinationals in search of a springboard to Africa (Le Figaro)

by times news cr

“Created in 2010, this special zone in the heart of Casablanca, with its modern infrastructure and flashy buildings, attracts start-ups, multinationals, banks, insurers and investment funds. Today, CFC brings together 225 companies with activities covering 115 countries, including 50 in Africa,” writes the newspaper under the title “Casablanca, the Moroccan Wall Street, conquering Africa.”

Recalling the positioning of Casablanca as the leading financial center on the continent ahead of Kigali and Johannesburg, according to the index of international financial centers, Le Figaro notes that this economic hub which last month received 1,200 leaders of the sector on the occasion of the fifth edition of the Africa Finance Summit (Afis), also aims to be a financial platform with the stated ambition of its promoters to make it “the hub of African finance”.

“By attracting businesses and capital, “Casa” wants to establish itself as a business hub in Africa, notes the publication, noting that in this continent, “the next relay of global growth”, 70% of households will have power purchases above $5,000 in 2025, according to the International Monetary Fund (IMF).

For the newspaper, the dynamics of the Casablanca market were driven by political will, reinforced by the speech of HM King Mohammed VI, delivered in Abidjan in 2014, in addition to the reintegration of the Kingdom into the African Union in 2017.

The daily, which refers to figures from the Ministry of Economy and Finance, notes that since this period, Moroccan investments in Africa have exploded, going from 100 million dollars in 2014 to more than 800 million dollars in 2021, specifying that today, 43% of Moroccan foreign direct investments (FDI) are directed towards the continent.

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