The Minister of Economy and Finance, Mr. Mohamed BENCHAABOUN, takes part in the Africa Investment Forum : 07/11/2018

The Minister of Economy and Finance, Mr. Mohamed BENCHAABOUN, takes part in the Africa Investment Forum

Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance, participated , Wednesday October 7th 2018 in Johannesburg in South Africa, at the first meeting of the « Africa Investment Forum » organized by the African Bank for Development (AfDB).

The opening session of this high level Forum, which constitutes a platform to raise capital and accelerate private investments in Africa, was characterized by the participation of the Head of States and Governments, senior representatives of the African public and private sectors, international and regional financial institutions and international institutional investors.

Following the last meeting in Berlin on investment, a panel on the initiative Compact with Africa was held and where once again our countries’ progress was stressed, namely at the level of reforms aimed at strengthening macroeconomic stability and improving business climate. In this respect, focus was on the reform of investment regional centers and investment charter considered as major projects that will build up the investment environment in Morocco and significantly strengthen our country’s attractiveness to international investors.

During this meeting, the Minister of Economy and Finance attended the signing ceremony of a letter of intent between the President of the Executive Board of the Moroccan Agency of renewable energy (MASEN) and the President of the African Bank for Development (AfBD) with a view to support the program « turn a desert into energy » in the Sahel zone. On this occasion, Mr. BENCHAABOUN stressed the importance of the partnership with the (AfBD), as shown by the signature of this letter of intent and which made Morocco the first client of the Bank in the continent. He also urged the (AfDB) to further finance the private sector through innovative devices. Besides, he called on the Bank to organize one of its next editions of Africa Investment Forum in Morocco.

Furthermore, the Minister of Economy and Finance had a bilateral meeting with the President of the European Bank for Reconstruction and Development (EBRD), Mr. Suma Chakrabarti.

Discussions focused in particular on the current cooperation aspects between Morocco and the Bank and ways to further strengthen them. In this context, the President of the (EBRD) expressed the willingness of his institution to support Morocco in its investment projects in sub-Saharan Africa.