Morocco, one of the most attractive countries for businesses in Africa

Morocco, one of the most attractive countries for businesses in Africa

Morocco is one of the most attractive countries on the African continent for companies in terms of integration into Global Value Chains (GVCs), said Achraf Hassan Tarsim, Country Manager of the African Development Bank (AfDB). ) for Morocco.

Politically stable, Morocco benefits from many strengths, starting with its geographical position and its capacity as a “strong platform” for trade between Europe and sub-Saharan Africa, underlined Mr. Tarsim, in a published interview. Wednesday by “Le Matin”.

In addition, the AfDB official reported the approval of the financing of 33 operations in Morocco since 2017, including four in the private sector and 29 in the public sector, for a cumulative total amount of 3.6 billion. of dollars (MM$).

Regarding the new partnership program between Morocco and the AfDB, Mr. Tarsim said that the new framework will focus on human capital for stronger and more inclusive growth as well as the management of water and energy resources, in order to strengthen the resilience of the national economy to exogenous shocks.

The official specified that the AfDB acts in Morocco as “a bank of solutions”, insofar as it supports social and human development, supports resilient transformation agriculture that creates value and employment, promotes the creation of jobs, supports the modernization of the economy and provides its expertise in the financing of structuring projects.

In addition, the AfDB also contributes to industrial acceleration as well as improving the territorial and logistical competitiveness of the national economy, through the modernization of transport infrastructure.

Regarding the private sector, the official recalled that the AfDB indirectly supports small and medium-sized enterprises (SMEs) with high growth potential through equity investments in investment funds.

Morocco has experienced exemplary successes in the development of its agriculture, including in particular the Green Morocco Plan, launched fifteen years ago, with an investment of nearly $13 billion, over the period 2008-2020. he underlined, noting the sustained growth of GDP in agriculture with an increase of more than 5.5% per year.

And to continue that this strategy has enabled the establishment of 19 program contracts concluded between the State and professionals and aimed at the development of value chains in agricultural sectors.

In addition, Morocco’s new “Green Generation” strategy, also supported by the Bank, provides a reference framework for greater resilience of the food system.

Referring to the various climate-related issues, the official maintained that the AfDB is constantly working to mobilize funds to fight against climate change in Africa, noting that the Bank has doubled the share of financing devoted to climate finance to reach $25 billion by 2025, of which 67% will be dedicated to climate change adaptation, which is the largest share of any institution globally.

And to emphasize that concerted initiatives are being put in place at the initiative of the Bank, in particular, the Adaptation Acceleration Program in Africa (AAAP) which has the support of African Heads of State and which intends to mobilize more resources to address climate change, in order to advance the goals of the Africa Adaptation Initiative.

Also, at the instigation of the AfDB, development partners have pledged $30 billion over five years to support the implementation of national agricultural pacts, including a contribution of $10 billion from our institution to help Africa eradicate hunger and become the world’s leading supplier of food, he argued.

In this sense, the Bank is also setting up Special Agro-Industrial Transformation Zones, designed to move the African agricultural sector towards a highly productive sector that retains added value and jobs in the territories rather than continuing to export agricultural products. raw materials as is.

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