Morocco’s Casablanca finance city became Africa's leading financial centre
Channel: Africa Reloaded
Date: 2022-03-15

Morocco’s Casablanca finance city became Africa's leading financial centre.
Morocco has a long way to go in terms of growth and economic progress. According to the Global Financial Centers Index (GFCI), Casablanca Finance City (CFC) has surpassed Johannesburg, South Africa, as Africa's biggest financial hub, according to the Z/Yen Group think-tank. The CFC, which first appeared in the GFCI in September 2014, is now placed 33rd, up 11 spots from its prior position. Johannesburg dropped 18 places in the overall ranking due to the recent economic crisis and political turmoil in South Africa. Just us, and we'll show you why Morocco's financial metropolis is Africa's most important financial center. As we begin, please take a time to subscribe.
When it was founded five years ago, there were doubts about its potential, but the CFC now appears to be on track to succeed, despite the fact that it will not be physically present until early 2017. CFC is the third most promising financial centre after Singapore and Shanghai in the 19th GFCI ranking, which was announced on April 5th. Since its inception, the Moroccan financial sector has attracted over 100 major global corporations, including AIG, Bank of China, BNP Paribas, Ford, and Baker McKenzie, which have decided to operate in Africa from Morocco. The new rating, according to Said Ibrahimi, chief executive officer of the Casablanca Finance City Authority, confirms the "rightness" of the established position. 
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