The event’s talking points and questions revolved around the challenge of the climate crisis for the coming decades as well as Morocco’s—and Africa’s—role in shaping the future of the world.
Rabat – Morocco’s “high potential” banking and financial sector and its “laudable” efforts on the renewable energy front were the talking points of a side event at the Tokyo International Conference on African Development (TICAD) on Wednesday, August 29.
The event, organized by Casablanca Finance City (CFC) and Moroccan Agency for Renewable Energies (Masen), aimed to showcase investment opportunities in the banking and financial sectors in Morocco as well as the North African country’s recent efforts in renewable energies, one of the primary areas for Japanese investments in Africa.
The event was held in a conference-like format and convened dozens of Japanese business owners and larger scale investors with potentiale interests in exploring, and building businesses in Morocco.
Speaking to the audience, CFC director, Said Ibrahimi, promised his company’s readiness to orient and accompany Japanese investors in any , prospective ventures in Morocco.
Focusing his arguments on the “incredible, enormous” opportunities in Morocco’s banking and services sectors, Ibrahimi told the Japanese investors that Morocco’s status as a continental investment hub and a leader in banking and market capitals makes it an ideal place to invest in Africa.
Investing in Morocco, he argued, offers an opportunity to take advantage of the bulk of what Africa offers from a financial point of view. Ibrahimi backed up his arguments by providing figures on the assertive presence and influence of three Moroccan banks—BMCE Bank, Bank Populaire, and Wattijariwafa Bank—on the continent.
With subsidiaries across, respectively, 19, 17, and 14 African countries, the three Moroccan banks are part and parcel of Morocco’s growing assertiveness in, or impact on the new intra-African dynamics.
He said the three banks and other Moroccan companies, especially in the telecommunications sector, can share their African expertise and experience with their Japanese counterparts interested in exploring the continent’s investment opportunities.
Renewable energy and environment-friendly practices also featured prominently in the conference’s central points.
Ali Zerouali, the president of the Moroccan Agency for Renewable Energies (Masen), extensively spoke about Morocco’s recent achievements on the renewable energy sector.
In its bid to become a continental and worldwide leader on environment-friendly policies, the Moroccan government recently announced its bold ambition to get almost half of its electricity from renewable energies.
Focusing on this and some other efforts the country has made in recent years on the climate front, Zerouali asserted that Morocco presents an added value for Japan’s interest in helping the African continent in terms of minimizing policies and practices that can harm the environment.
The Masen director also pointed out that with more input from Japan, Morocco will be more poised and in a better position to share its experience and expertise with other countries across Africa.
Throughout the event, other talking points and questions revolved around the challenge of the climate crisis for the coming decades as well as Morocco’s—and Africa’s—role in shaping the future of the world. Almost all speakers urged collective action to come to terms with shared concerns, such as the climate crisis and the changing, fast-moving services sector.
