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

On the sidelines of the 14th session of the US-Africa Business Summit 2022, which concluded its work on Friday evening, the Moroccan Agency for the Development of Investments and Exports (AMDIE) have arranged a meeting around themattice: ” Morocco: a platform of opportunity and a hub for business and investment in Africa“.

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

The panel of speakers did not fail to emphasize Morocco’s role in the mobilization and management of investments 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, CEO of the company Nareva, which specializes in renewable energy, reviewed the great achievements that Morocco has orchestrated in the field of renewable energy. He recalled that the investments mobilized to promote this future sector exceeded 10 billion dollars. Hamdoune also returned to the contribution of Nareva at the national level: “Nwe have tworked hard and mobilized all our energies to deliver green energy at the lowest price and add it the layout of industrial sector in Morocco“, he declared.

For his part, Mohamed Bachiri, Chairman and CEO of the Renault Group, returned to Morocco’s very successful experience in the automotive industry, recalling that this sector has become the leading 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 annually.

Bachiri further added that the automotive sector in Morocco is succeeding in its energy transition as it has now become dependent on renewable energy at a time when the global trend is towards the imposition of carbon taxes.

For his part, Abdeslam Housni Sqali, founding president of Hitech Payment Systems, returned to the most important stages of the development of his company, which specializes in the production of banking software and now exports its products to various regions of the world.

As for Youssef Mansour, the American of Moroccan origin who managed to establish the back office of an American company in Morocco, he explained that his company’s representative office was initially supposed to open in India, but that he had finally succeeded in convincing his group. that Morocco had all the qualities required to host this project. During the first two years of its inception, this office employed only 200 persons; today it is on track to employ 3,000 people.

In turn, Travis Langham, representative of the aviation industry giant Boeing, returned to the dazzling development that this high-tech sector has experienced in Morocco over the past 20 years. ” We have the work of setting up of-one ecolocal industrial system; today, the same ecosystem given to usnot continuously in spare parts“, he declared. 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 aviation.

Finally, Houda Farah, Managing Partner at Enjima, highlighted the experience of his company, which succeeded in mobilizing more engineering talent in Morocco and becoming one of the national leaders in engineering expertise.

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