The Attijariwafa bank group and the Secretariat of the African Continental Free Trade Area (ZLECAf) signed, on the sidelines of the 2024 Edition of the International Africa Development Forum, a memorandum of understanding aimed at accelerating the impacts of the AfCFTA in order to facilitate trade and investment on the Continent.
Initialed by Mr. Mohamed El Kettani, Chairman and CEO of the Attijariwafa bank group and by HE Wamkele Mene, Secretary General of the AfCFTA Secretariat, this memorandum of understanding concerns the cooperation of the two parties with a view to mobilizing resources, identifying and supporting the implementation of projects in priority sectors such as infrastructure, energy, agriculture, agro-industry, automotive, pharmaceutical industry, transport and logistics.
The two parties also committed to supporting African Trading Companies that facilitate and stimulate intra-African trade, to promoting the participation of women and young entrepreneurs in the AfCFTA to further foster job and project creation, and to rely on the Club Afrique Développement of the Attijariwafa bank group, as a South-South exchange platform for the benefit of the African entrepreneur community.
Thus, the Attijariwafa bank group and the AfCFTA have agreed, through this agreement, on the fundamental principles of this cooperation. These include:
- promote AfCFTA trade and investment opportunities;
- to participate mutually in events and forums organized by both parties as well as in sectoral economic missions organized on the Continent by the Africa Development Club;
- to take part in the Sufawe initiative of the Africa Development Club by supporting and strengthening its program;
- to co-organize sectoral webinars for AfCFTA opportunities (Automobile, Agro-industry);
- and finally, to exchange market information and publications related to trade and investment in Africa.
Speaking during the signing ceremony, HE Wamkele Mene, Secretary General of the AfCFTA Secretariat, welcomed the conclusion of this important memorandum of understanding which demonstrates the desire of both parties to bring their cooperation to a higher level and to further strengthen the role of the African banking sector in supporting African economic operators in prospecting business opportunities across the continent and thus broadening their ambitions in order to effectively contribute to economic prosperity in Africa.
Being convinced of the importance of this initiative, Mr. Secretary General recalled “the need to also strengthen communication channels on business opportunities on the continent and the prioritization of unifying infrastructure projects capable of contributing to the acceleration of the movement of people and capital.”
The Secretary General also underlined “the need to involve all the active forces of African nations and to encourage economic operators to take ownership of the objectives of the AfCFTA, the main objective of which remains the establishment of a flourishing economic space beneficial to all African people. »
During his speech, Mr. Mohamed El Kettani, Chairman and CEO of the group
Attijariwafa bank said: “ By discovering the current capabilities of the ZLECAF, we become aware of the considerable contribution of this initiative to the economic development of Africa. This free trade zone has the potential to profoundly transform intra-African trade, by eliminating tariff and non-tariff barriers, and stimulating foreign direct investment.. »
And to add: “ As a pan-African financial institution, Attijariwafa Bank is firmly committed to supporting this dynamic of growth and economic integration. This agreement represents not only a significant step forward for our two organizations, but also a unique opportunity to take advantage of the synergies created by this strengthened cooperation. We look forward to collaborating through activities such as the International Africa Development Forum (FIAD), and to benefit more fully from the economic opportunities offered by our booming continent. Together, we will work towards building a more integrated, more competitive and more prosperous Africa.. »
This MoU illustrates the continued commitment of the Attijariwafa bank group and the AfCFTA Secretariat to deeper African economic integration promoting sustainable development, economic growth and increased intra-African trade.
 Secretariat sign a Memorandum of Understanding to accelerate the impacts of the AfCFTA and facilitate trade and investment on the African continent){kind=link}