Morocco: The Hub of African Financial Integration?

PARIS, March 25, 2014 /PRNewswire/ --



Publication of the new Thomas More Institute Tribune

Monday, March 17, 2014 on http://www.institut-thomas-more.org

In a world where globalisation is a reality, Africa should become quickly integrated in the process in order to meet the legitimate expectations of its population. Indeed, the African continent, which admittedly faces great difficulties but also boasts considerable strengths, should bring its muscle to bear, whether in the political, economic, social or cultural spheres.

At present, Africa is only very modestly integrated into global production and commercial circuits (3% of world trade). But the great geopolitical upheavals of recent years, especially the progressive emergence of a multi-polar interdependent world, highlighted by the rapid growth of the BRICS, have already had profound effects in Africa. Thus Chinese economic growth, forcing the diversification of the country's sources of supply, has been a factor from which the African continent is one of the main beneficiaries. New types of partnerships have been negotiated accelerating investments in infrastructure, the need of which is urgent if Africa wishes to meet the dual challenge of a demographic explosion and a substantial improvement in the living standards of its population.

In this fast changing geopolitical and geo-economic context, at a time when Africa is facing fundamental questions concerning its future, Morocco has undertaken to meet the challenge of creating the financial hub that the continent requires through its Casablanca Finance City (CFC) initiative.

The new Thomas More Institute's Tribune shows that CFC highlights the undeniable advantages of Morocco and the metropolis of Casablanca as anchor points to participate under the most favourable auspices in the African financial boom looming:

• Political stability and favourable socio-cultural conditions
• Optimal location and promising physical infrastructures
• An operational legal and fiscal framework
• Developed financial services infrastructure
• An integrated and all encompassing financial offer

As it is evidenced by the imminent entry of CFC in the Global  Financial  Centres  Index (CFC ranks 62nd and 2nd among African centres, preceding Mauritius), no other centre in Africa offers today such a complete range of benefits for initiating in a conducive environment, the many productive investment opportunities in Africa.

Contact

Giulio di DOMENICANTONIO, Research Assistant | g.didomenicantonio@institut-thomas-more.org | Tel: +33(0)1-49-49-03-30 | Fax: +33(0)1-49-49-03-33