CFC Poised Morocco to become “Africa’s leading financial hub” – Forbes Magazine

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Casablanca Finance City (CFC) was described by U.S. Forbes Magazine as one of theCFC Poised Morocco to become “Africa’s leading financial hub” – Forbes Magazine most ambitious projects nursed by His Majesty King Mohammed VI, therefore acknowledging Casablanca in successfully becoming the “Africa’s leading financial hub”.
The said project will be the country’s regional financial center and a privileged entry point for Northern, Western, and Central Africa. The magazine noted on an article entitled “King Mohammed VI of Morocco Builds New Financial City for the World”, that, CFC was “developed for large national and international foreign institutions looking to operate in the region and gain access to French-speaking African markets”.
“To achieve this, in 2010 the King announced the creation of one of his most ambitious projects, the Casablanca Finance City (CFC), the publication further reported. Quoting an adviser of the project, he said, “that what CFC plans to do is sell market access to French speaking Africa and giving fiscal and financial incentives to financial institutions, professional services firms such as legal and consulting companies as well as large multinational firms with regional headquarters.” “Already, the new financial center is attracting growing interest from investors. In June last year, Abu Dhabi-based Asset Manager Invest A.D obtained a license to operate in the new financial center.
“We want to bring the giants here. Think of the biggest names in the world of finance and professional services – Goldman Sachs, Citigroup, JP Morgan, General Electric, Bowman Gilfillan, all of them. This is for them,”a senior executive of Moroccan Investment Development Agency (AMDI) said through an interview by Forbes Magazine. He also explains that “there is a huge market in Francophone Africa which remains largely untapped.”
“The CFC will provide a stable, reliable and relevant platform for international institutions to access these markets,” he ended.