The CCSM organises a debate conference on the theme: Morocco, a regional hub

Morocco has undeniable assets that allow it to aspire to this role of regional hub. Indeed, Morocco has forged a privileged partnership with European countries through the free trade agreement and advanced status, and with African countries thanks to its historical and commercial ties, particularly with the countries of French-speaking Africa. These advantages are a springboard for investors wishing to conquer African and European markets from the Moroccan platform. This vision was the subject of a debate conference organised by the CCSM on 28 November in Casablanca, in the presence of Othman El Ferdaous, Secretary of State for Investment.

Morocco takes inspiration from China

In his speech, Mr El Ferdaous set the tone, in particular by explaining the ins and outs of his department’s mission, which is inspired by China’s Silk Road strategy. “We are calling for new economic corridors to be opened between Europe and Africa in order to boost trade,” he said. The Secretary of State for Investment also compared Morocco’s situation to that of Mexico, which serves as a competitiveness base for the United States and Canada. He added: “Morocco would become an essential hub for European countries.”

Casablanca, “the place to be” in Africa for investors

As partners of the event, Casablanca Finance City (CFC), LafargeHolcim Maroc Afrique and ABB Maroc were also represented at the conference. For Lamia Merzouki, Deputy Managing Director of CFC, “Casablanca is “the place to be” for companies wishing to set up in Africa from an African hub”. According to her, “the Kingdom enjoys proven political and macroeconomic stability and air connectivity unequalled in Africa, with 32 direct destinations from the economic capital. There is also a solid legal and regulatory framework as well as quality infrastructure”.

The representatives of LafargeHolcim Maroc Afrique, which has Moroccan shareholders, struck the same note. “We have had a certain success in Morocco that we would like to replicate elsewhere in Africa, because we have noted similarities with other markets,” explains Zineb Zeryouhi, Development Director of the company, which has already set up in four African countries. As for Siham Fikri, Chief Financial Officer at ABB Maroc, which operates in power and automation technologies, she stated that the choice of the Kingdom as a regional hub was motivated in particular by the quality of Moroccan engineers, since 70% of the company’s employees are engineers, but also by proximity to customers.

Given its geostrategic position, which represents a gateway to both Africa and Europe, Morocco can aspire to become a regional hub. All the more so since, on the financial front, Casablanca Finance City, having become the leading financial centre in Africa and 28th in the world, is a good base for continuing to build links between Europe and Africa. Nevertheless, players in the sector are calling for reforms to consolidate the stability of the financial sector, diversify the range of products, set up infrastructure dedicated to SMEs, accelerate legal certainty and improve governance mechanisms in order to restore confidence in the Moroccan financial ecosystem.

Testimonials:

We have had a certain success in Morocco that we would like to replicate elsewhere in Africa, because there are similarities with other markets. We also have CFC (Casablanca Finance City) status, which makes it easier for us to recruit in Morocco. We do a lot of prospecting, which means we travel often, and from Casablanca there are direct flights to more than thirty countries. We have visa exemptions in practically every country because of the historical ties that bind Morocco to sub-Saharan countries. All this facilitates business relations and makes Morocco an obvious choice as an African hub. Zineb Zeryouhi , Development Director, LafargeHolcim Maroc Afrique

The ABB Group began to take an interest in Morocco as an African hub several years ago because of the advantages the Kingdom offers. We have a politically stable country with an enlightened vision from HM Mohammed VI on South-South cooperation. In addition, Moroccan engineers are recognised throughout the world in the fields of electrical engineering and automation. The country can count on the dynamism of the ports of Casablanca and Tanger Med, which are connected with most international and African ports, as well as constantly increasing air routes. As Moroccan citizens do not need visas in many countries, travel abroad is made easier and we can close business deals more quickly. ABB has therefore chosen to support partner companies that have chosen Morocco as a hub for Africa. Siham Fikri , Chief Financial Officer, ABB Maroc

The aim of this conference was to present Morocco as a regional hub and Casablanca Finance City, which embodies Morocco’s ambition in Africa. CFC has 170 members and a community whose members all have a regional focus. It is a concentration of collective intelligence on Africa and it is “the place to be” for companies wishing to set up in Africa from an African hub. To be a hub, there are a number of prerequisites, and Morocco has them because it enjoys proven political and macroeconomic stability and unequalled air connectivity. There is also a solid legal and regulatory framework as well as quality infrastructure. Today, Morocco has all the assets to be a hub, and for Swiss and foreign companies it is better to set up directly in Africa to be closer to business opportunities and manage deals more easily. There are a number of factors that make Casablanca ideally placed, and CFC in particular offers an attractive value proposition based on 3 pillars: facilitating business, access to a leading business community and the provision of key information for operating in Africa under the best conditions. Some Swiss companies have already chosen CFC, such as Swissport, LafargeHolcim and others. Lamia Merzouki , Deputy Managing Director, Casablanca Finance City