US-Africa Business Summit: Moroccan success stories presented to Africa

In the margins of the 14th session of the US-Africa Business Summit 2022, which concluded its work on Friday evening, the Moroccan Agency for Investment and Export Development (AMDIE) has organized a meeting around the eematice: ” Morocco: a platform of opportunities and a hub for business and investment in Africa“.

The event was divided into two sessions, one of which was dedicated to showcasing Morocco’s assets as a hub for Africa, while the second was reserved for Moroccan success stories in sectors such as automotive, aviation and technology.

The panel of speakers has not failed to underline the role Morocco plays in mobilizing and directing investment in Africa. In particular, they cited Casablanca Finance City as an example as the leading African financial center, not to mention the networks of Moroccan banks in Africa.

Reda Hamdoune, executive director of the company Nareva specializing in renewable energy, discussed the key achievements that Morocco has orchestrated in the field of renewable energy. He recalled that the investments mobilized to promote this sector of the future exceeded 10 billion dollars. Hamdoune also commented on Nareva’s contribution at the national level: “Nwe have toworked hard and mobilized all our efforts to supply green energy at the lowest cost and put it on the classification of the industrial sector in Moroccohe stated.

Mohamed Bachiri, President and CEO of the Renault group, for his part, returned to Morocco’s very successful experience in the automotive industry, recalling that this sector has become the largest exporter in Morocco and the second in terms of employment . Car production in Morocco has also increased from 15,000 cars in 2005 to more than 500,000 cars today.

Bachiri added that Morocco’s automotive sector is succeeding in its energy transition as it has now become dependent on renewable energy sources, at a time when the global trend is towards imposing carbon taxes.

For his part, Abdeslam Housni Sqali, founding president of Hitech Payment Systems, returned to the key stages of the development of his company specializing in the production of banking software and now exporting its products to different regions of the world.

As for Youssef Mansour, the American of Moroccan descent who managed to establish the back office of an American company in Morocco, he explained that his company’s representative office was initially going to be opened in India, but in the end he succeeded in opening his group convincing that Morocco had all the qualities to organize this project. During the first two years of its creation, this agency employed only 200 people; today it is on track to employ 3,000 people.

Travis Langham, representative of the aviation giant Boeing, in turn returned to the dizzying development that this high-tech sector has undergone in Morocco over the past 20 years. ” We have working on setting up froma ecolocal industrial system; today, this same ecosystem provided usnot continuous in spare parts“, he stated. It should be noted that this virtuous ecosystem consists of no less than 142 Moroccan companies, which manufacture 39% of the parts and components used in the aviation field.

Finally, Houda Farah, Managing Partner at Enjima, highlighted the experience of his company, which managed to mobilize several technical talents in Morocco and become one of the national leaders in technical expertise.

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