During his speech for the occasion, Makhtar Diop, the general director and executive vice-president of the IFC, an International Finance Corporation reporting to the World Bank, congratulated the countries which are acting in key sectors of Africa’s economic development. Rwanda, for example, is investing heavily in the health sector coupled with cutting-edge technology and many other sectors.
As for Morocco, the general director of the World Bank group spoke of its increased and exemplary investment in fertilizer. And this can have disastrous consequences directly on food security and the African economy if nothing is done. .
“LThe call to action is, above all, education, education, education. Using AI to take a leap forward. Someone mentioned Morocco earlier. And I agree. What has been done with the Moroccan university is incredible. In less than ten years, it has become the best university, even the best university in Africa. Digital skills are so good there that my institution, BCG, decided to relocate one of its largest AI hubs to Morocco..”.
Read also: Africa CEO Forum 2024: Interview. Hicham El Habti reveals the pan-African ambitions of Mohammed VI Polytechnic University
But it is not only these mentions that made Morocco shine at the Africa CEO Forum 2024, on May 16 and 17 in Kigali. Apart from the stands of institutions such as OCP Africa or the Mohammed VI Polytechnic University, a discussion panel entitled: “Invest in Morocco: Decarbonize to prosper” was organized.
By 2050 climate change could force 216 million people to migrate within their own countries, thus leading to hotbeds of climate migration from 2030, which, according to the World Bank is a phenomenon that will expand and will intensify thereafter.
According to Mohammed Benjelloun, strategy consultant at the Moroccan Agency for Investment and Export Development, AMDIE, the organization of such a panel testifies to Morocco’s desire to share good practices with other countries on the continent but also to listen for possible suggestions or testimonies of good practices.
“Morocco considers it important to participate in the Africa CEO Forum because it is one of the most important meetings for business in Africa and it makes it possible to present investment and sourcing opportunities from Morocco or to its partners. This makes it possible to organize a conference, for example, on the potential of Morocco and the initiatives taken by successive governments under the high supervision of His Majesty King Mohammed VI, may God help him, and which made it possible to establish the various policies public authorities towards sustainable development“.
Read also: Africa CEO Forum in Kigali: “Everything that can be done anywhere in the world can be done in Africa”, Kagame sets the tone
For Morocco, the deployment of its decarbonization policy aims to proactively respond to its national needs and to anticipate international regulations, which are increasingly restrictive, such as the establishment of the carbon adjustment mechanism at the borders of the country. European Union which affects export value chains. In terms of energy transition, Morocco aims to increase the share of renewable energies in overall installed power to 52%, and to reduce energy consumption by 20% by 2030.
Morocco’s participation in the Africa CEO Forum 2024 also reflects another desire of the Kingdom, that of presenting the new investment charter adopted by the country and which grants advantages to foreign investors, particularly African ones, continues Mohammed Benjelloun.
“Of course Africa must believe in Africa. Our participation in this year’s Africa CEO Forum allows us to present to our African brothers and friends the advantages presented by the new investment charter adopted by the Kingdom of Morocco in December 2022 and which grants certain advantages to both local and local investors. foreigners and in particular Africans, and which can go up to 30% of the investment capital made“.
Read also: Rwanda: OCP Africa’s fertilizer blending plant seen from the inside
As a reminder, Morocco is the second African investor on the continent after South Africa, knowing that 45% of total Moroccan FDI (foreign direct investment) abroad is made in sub-Saharan Africa. Among the Moroccan institutions that were present at the Africa CEO Forum, we can cite OCP Africa, Royal Air Maroc, Mohammed VI Polytechnic University, CGEM (General Confederation of Moroccan Enterprises), Cooper Pharma, etc.
By Fraterne Ndacyayisenga
05/25/2024 at 8:59 a.m.
