Morocco aims to become Africa’s business gateway

Casablanca is attempting to position itself as Africa’s financial and commercial hub, the Guardian reports. At the center of this effort is the Casablanca Finance City (CFC), launched in 2010, which now hosts 240 companies—including global names like Huawei and Schneider Electric—generating over 7,000 jobs.

The CFC offers tax incentives and strategic support to companies seeking entry into African markets. This effort aligns with Morocco’s broader strategy: boosting African investment, which surged from $100 million in 2014 to $2.8 billion in 2024. The district is now ranked 56th globally and fourth in the Middle East and Africa on the Global Financial Centres Index.

Seen as a gateway into the African Continental Free Trade Area (AfCFTA), which promises access to a $3.4 trillion unified market, CFC also partners with over 20 African investment agencies. Yet, integration across the continent remains slow, plagued by bureaucracy and outdated regulations.

To diversify its offerings, the CFC is expanding into fintech and sustainable finance. It launched an Africa Innovation Lab and is working to establish a carbon market, tapping into Africa’s underutilized potential in carbon credits.

Still, critics argue the focus on foreign capital neglects domestic inequality, and most Moroccan exports continue heading to Europe not the rest of the African continent. But CFC officials maintain Morocco’s political and economic stability gives it an edge.

“We remain a stable platform,” said Chief Operating Office Lamia Merzouki. As global trade becomes more turbulent, Morocco is marketing itself as a calm, strategic bridge between Africa and the world.