Rabat — Morocco is hosting the Africa Financial Summit (AFIS) for the first time in Casablanca.
The two-day event, which kicked off today and will run through tomorrow, gathers over 1,000 leaders from across Africa to discuss bold ways to reshape African finance.
According to the AFIS website, this year’s edition is held under the theme: “A New Era: Time to Mobilise Africa’s Financial Power,” is centered around the urgent need to harness the continent’s economic potential as the new opportunities abound.
Prominent Moroccan officials are attending the opening ceremony, including Economy and Finance Minister Nadia Fettah, Trade Minister Ryad Mezzour, and Investment Minister Karim Zidane.
The intercontinental summit features 30 panels and roundtables that will cover ways to cut costs and speed up trade to boost local investments as well as bolster ties between African economies.
Another key aim is to build a shared African stock market to help break down barriers between fragmented markets.
One major challenge the summit will strive to tackle is to find new ways to serve the informal workforce which makes up 83% of Africa’s economy. Experts want to also introduce digital tools to bring banking and insurance services to more people.
The AFIS was founded in 2021 by Jeune Afrique Media Group. It is co-hosted by the International Finance Corporation.
Every year, leaders share transformative solutions on how to grow African finance and help it stay strong during global and regional shocks.
Last year, the AFIS was held in Lomé, Togo, where the focus was to build a stronger financial sector for Africa.
Discussions covered investment in local markets, regulatory issues, and digital transformation. Leaders also discussed climate finance, asset tokenization, and artificial intelligence.
This year’s edition will continue on that momentum, and Morocco’s choice as the host further solidifies the country as a key leader towards Africa’s burgeoning economic future.
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