Africa needs the contribution of a genuine African investment industry, capable of guaranteeing a massive and sustainable mobilization of capital and ensuring effective integration into the financial markets, underlined King Mohammed VI.
In a message sent on Monday to participants at the Launching Conference of the African Sovereign Investors Forum (ASIF), which is being held in Rabat, King Mohammed VI said that sovereign and strategic investment funds are powerful indicators of opportunities and constitute incentives for a better allocation of capital towards sectors that create economic value and have a strong social impact.
The King, however, observes that at this day, and despite the continent’s efforts in terms of reforms that several countries have implemented, “access to capital remains timid and mainly dominated by funding from development agencies and banks”, noting that it is time for Africa to be able to assert itself, take its destiny into its own hands and occupy the rank it deserves.
“We would like to congratulate the African sovereign and strategic funds gathered today in Rabat for this laudable initiative, which will not fail to promote the development and the realization of structuring projects with a strong impact of integration in our continent, and which we salute and support »he said in a message.
Sovereign and strategic funds have the mandate to act as informed and patient investors, ensuring the link between long-term national priorities and private investors, within the framework of a partnership and sustainable development approach, he argued. in this message, which was read by the Minister Delegate to the Minister of Economy and Finance, in charge of the Budget, Faouzi Lekjaa.
This is all the more crucial, continued King Mohammed VI, when it comes to ensuring Africa’s link to the international private financial system, in particular by strengthening and generalizing skills to put them in tune. of the best international standards, thus consecrating Africa as a land of welcome for investors and investments.
Recalling the continuous efforts made by the Kingdom in the service of the interests of the African continent and in favor of its economic development, he assured that “Africa is a choice of heart and reason. It is a clear and proactive choice, materialized by Our commitment through numerous initiatives that energize and promote inter-African cooperation and economic development”.
“A choice to make investment today an engine of economic and social development and regional and continental integration in Africa”, he insisted, adding that “Africa has unparalleled opportunities today, particularly in the green economy, blue economy and digital sectors” and “our continent must continue its efforts”.
And by highlighting the inclusive and partnership approaches in which Morocco is committed to face the many current and future challenges, the King cited the projects for the establishment of vaccine production units, the construction of fertilizer and fertilizer production plants, aimed respectively at ensuring the continent’s health and food sovereignty, as well as the work undertaken to accelerate the continent’s financial inclusion, or projects aimed at strengthening the energy sovereignty of the continent. continent such as the Gas Pipeline megaproject between Nigeria and Morocco.
To face the major issues and challenges facing the African continent, the sovereign called for all efforts to be made to “accelerate proactive and concerted approaches to investment, to meet the legitimate aspirations of our peoples in a sustainable manner”.
This initiative is “another expression of the determination of the living forces of Africa to be the actors of its progress and its development. We see in it the illustration of the Africa that We call for, an enterprising and daring Africa, taking up its challenges and transforming them into opportunities”, raised the King in his message.