The International Chamber of Commerce Morocco (CCI Morocco) is preparing to enter a new era of dynamism under the newly elected presidency of Karim Hajji.
Appointed during the last Board of Directors meeting in Casablanca, Hajji succeeds the honorable statesman and former Minister of Finance, Mohamed Berrada, thus inaugurating a promising phase for the institution.
This appointment comes two weeks after the landmark election of tycoon Moulay Hafid Elalamy to the Executive Council of the International Chamber of Commerce (ICC), making him the first Moroccan to win a place among the organization’s decision-makers at the global level. Together, these events illustrate Moroccan economic soft power in full action, propelling the country towards new horizons of influence and growth.
The transition from Mohamed Berrada’s presidency to Karim Hajji at the head of the highly influential International Chamber of Commerce Morocco is looking auspicious. Mr. Berrada, a civil servant and great defender of the Kingdom and its institutions, having established an era of dynamism and rigor, leaves behind a solid legacy. Mr. Hajji, with his rich experience and ability to navigate various economic sectors, is ready to take the reins and amplify the successes of his predecessor.
Karim Hajji is a leading figure in the Moroccan financial sector. As a former Director General of the Casablanca Stock Exchange, he orchestrated major reforms, propelling the Moroccan financial market towards increased transparency and unprecedented attractiveness for foreign investments. His leadership has enabled the stock exchange to become a key player on the African financial scene.
Currently, Karim Hajji is Advisor to Farid Bennis, President of Laprophan Laboratories, a leading pharmaceutical group in Morocco. His role and his legacy at Laprophan demonstrate his ability to adapt and excel in various sectors of the Moroccan economy.
Before leading and transforming the Casablanca Stock Exchange, Karim Hajji served as Chairman of Atlas Capital Group, an independent investment bank he founded in 1999, active in corporate finance and asset management. Mr. Hajji, who began his professional life with an 8-year international career at Eli Lilly and Co in the United States, Italy and Switzerland, joined the ONA Group (Currently Al-Mada), the largest conglomerate in Morocco, in 1990 as Advisor to the President at the time.
An architect of African financial integration
Beyond his influence in Morocco, Hajji chaired the Association of African Stock Exchanges (ASEA), where he worked to integrate the continent’s financial markets. His inclusive and calm approach and his great listening and negotiation skills fostered unprecedented cooperation between African stock exchanges, stimulating trade and attracting international capital.
Assessment of Karim Hajji at the head of the Casablanca Stock Exchange
Karim Hajji’s record at the helm of the Casablanca Stock Exchange shows a period of significant transformation, marked by increased security of systems, diversification of products and services, and a strengthening of the regional and international position of the Exchange. The Elite program, in particular, was a key initiative to overcome the reluctance of family businesses and boost the market.
| Areas | Achievements |
|---|---|
| Context and Challenges | – Took office in April 2009 – Reconstitution of a management team – Restoration of credibility after a computer incident – Securing the information system – Market stimulation with new products and services |
| Information system | – Availability level of 100% over the last five years – Security to international standards |
| Enrichment of the offer | – New compartments for SMEs and qualified investors – Fund listing and trading of unlisted instruments – Collaboration with the regulator to remove obstacles to the listing of index and real estate funds |
| Programme Elite | – Partnership with the London Stock Exchange Group – Capacity building for SMEs – 12 cohorts between Morocco and West Africa – More than 120 companies integrated into the program – Several companies in the process of IPO |
| Investor Initiatives | – Development of e-learning in French and Arabic – Organization of “stock market championships” – Launch of a mobile application – Thematic seminars – Partnerships with universities to promote stock market culture |
| International influence | – Membership of the World Federation of Exchanges (WFE) in 2011 – Organization of the African Stock Exchange Conference in 2012 – Projects for rapprochement with other African markets – Improving the visibility of issuers through the “Morocco Capital Market Days” |
| Financial performance | – No loss-making exercise despite the crises – Increase in equity from 510 MDH in 2008 to more than 700 MDH in 2019 – Income diversification to increase resilience to crises |
| Demutualization and Technology | – Implementation of new specifications – Transformation into a stock market group integrating cash market, derivatives, CCP – Development of a clean compensation solution to address the challenges of costly and legal acquisition |
CCI – Morocco: A Prestigious Board of Directors
The International Chamber of Commerce (ICC) – Morocco, affiliated with the International Chamber of Commerce (ICC), is an institution that plays a key role in the development of international trade and investment in Morocco. It aims to promote a favorable business environment, encourage international trade, and represent the interests of the Moroccan private sector on a global scale.
The Board of Directors of the CCI – Morocco is composed of eminent personalities from the business, academic, and legal worlds, bringing diverse expertise and a network of influential contacts. These include: Mostafa TerrabChairman and CEO of the Office Chérifien des Phosphates (OCP), Brahim Benjelloun-TouimiDeputy Managing Director of the Bank of Africa (BOA), Ghita LahlouDirector General of the Central School of Casablanca,
Missions of the ICC -Morocco
- Promotion of Trade and Investment: Facilitate trade and investments between Morocco and the rest of the world.
- Support for Businesses: Providing support services to Moroccan companies to help them develop internationally.
- Development of Trade Policies: Work with authorities to develop policies that promote trade and investment.
- Formation et Information : Provide specialized training and up-to-date information on international trade.
Initiatives and projects
- Forums and Conferences: Organization of international forums and conferences on relevant economic and commercial themes.
- Specialized Committees: Creation of committees to address specific topics such as commercial arbitration, digital commerce, and intellectual property.
- Publications and Studies: Dissemination of reports and studies on international trade trends and opportunities for Moroccan businesses.
Moulay Hafid Elalamy, a Tycoon on the Executive Council of the ICC World
Moulay Hafid Elalamy, founder of the Saham group, became the first Moroccan to be elected member of the executive council of the International Chamber of Commerce (ICC). The ICC executive council, made up of 27 members, welcomed Elalamy among its five newly elected officials for a three-year term starting June 11, 2024. Alongside figures such as Jitka Haubova (Czech Republic), Marcelo Elizondo ( Argentina), Mark Nowitz (South Africa) and Zhang Xiaolun (China), Elalamy will bring his expertise to develop and implement the ICC’s strategy, while overseeing its financial affairs.
The ICC, the global business organization and voice of the business community, is dedicated to encouraging international trade and investment. The election of Moulay Hafid Elalamy to the Executive Board represents recognition of his career and strategic vision, thereby strengthening Morocco’s position on the global economic stage.
Moroccan economic soft power in action
Moulay Hafid Elalamy and Karim Hajji brilliantly embody Moroccan economic soft power. Their ascension to the governing bodies of the International Chamber of Commerce opens new avenues of growth and innovation, thus consolidating Morocco’s place in the global economic arena.
Day after day, Morocco confirms its determination to play a key role in global economic development, demonstrating the strength and influence of its model. These successes, driven by the power of its institutions, owe everything to the visionary leadership of King Mohammed VI, who continues to guide the Kingdom to new heights, affirming its status as a key player on the international scene.
