CFC YOUR BUSINESS CATALYST IN AFRICA
Casablanca Finance City (CFC) is an African economic and financial hub located at the crossroads of continents.
Recognized as the leading financial center in Africa and a partner of the largest international financial centers, CFC has built a strong membership community of finance companies, regional headquarters of multinationals, service providers and holding companies.
CFC offers its members an attractive value proposition and quality “doing business” support to promote the deployment of their activities in Africa.Driven by the ambition to satisfy its community,
CFC is committed to promoting the African expertise of its members while stimulating synergies and business opportunities within its network.
Casablanca Finance City is created under law No. 44-10. The law entrusts Casablanca Finance City Authority with the overall management and institutional promotion of CFC. The enforcement decree of Law 44-10 enacts the creation of the «CFC Commission », the body responsible for the granting of the “CFC status” to eligible companies.
CFC IN NUMBERS
1st Financial Center in Africa (GFCI, 2019)
~200 companies with CFC Status
48 African countries covered by CFC’s companies
1st green financial center in Africa and the Middle-east (GGFI, 2019)
18 South-South partnerships
13 partnerships with international financial centers
Morocco has strong assets, allowing it to serve as the preferred entry point to Africa:
- Monarchy dating back over 12 centuries
- Stable and secure environment
Privileged geographical location
- Located at the confluence of the Atlantic and the Mediterranean, of which it is the first gateway, the Kingdom of Morocco enjoys a unique geo-strategic position that allows it to be located at the crossroads of several civilizations (Tangier is less than 14 km from Europe) as well as act as a moderator of a three-dimensional economic dialogue that gives access to a potential market of nearly one billion consumers.
Transport, Infrastructure & Connectivity to Africa
Morocco is the 2nd country with the best infrastructure in Africa (WEF 2019). It has the best maritime connectivity in Africa and is ranked 16th in the world. Morocco has 16 international airports, with Casablanca as the 1st Europe-Africa hub. From Casablanca, 33 direct flights are scheduled to African destinations.
Solid economic fundamentals
- Morocco has put in place “solid macroeconomic policies and reforms that have contributed to reducing internal and external vulnerabilities, improving fiscal and financial policy frameworks and increasing economic diversification”. Source: IMF, 2017
- Fitch Ratings and Standard & Poor’s maintained Morocco’s investment grade rating since 2007 and ranks Morocco third in Africa.
- According to the IMF and the World Bank, Morocco is 3rd in Africa (after Mauritius and Rwanda), gaining 7 points in the “Doing Business 2020” index.
A strong African anchor
Morocco has a strong economic footprint in Africa as more than 85% of Morocco’s Direct Foreign Investment (FDI) goes to Africa. The Moroccan financial sector (banking, insurance) is present in 34 African countries. The Saham group is present in 27 countries, BMCE BANK in 20 countries, Attijari Wafabank in 14 countries and the Banque Populaire group in 17 countries. Morocco is the 2nd largest intra-African investor in Africa with a total of 22 projects valued at $ 5 billion in 2017.
Cooperation between governments is very positive and strengthened through 46 royal visits to 25 countries since the enthronement of His Majesty King Mohamed VI in 1999 and through the establishment of cooperation agreements with 42 countries.
- Africa will have a global GDP of $ 29 trillion in 2050
- 24 African countries will grow at an average annual growth rate of at least 5% by 2030
- 70% of African households will have a purchasing power greater than $ 5,000 in 2025
- Urbanization is growing: 100 African cities with more than 1 million inhabitants in 2025
- The infrastructure needs are important: 90 billion dollars / year until 2020
- African labor force will be 1.1 billion in 2035