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Moroccan Banks Invest $1.84 Billion in Africa in 10 Years

Dealer counts Moroccan dirhams in a photo illustration at a currency exchange in Casablanca, June 29, 2017. The picture was taken on June 29, 2017. REUTERS/Youssef Boudlal/Illustration
Dealer counts Moroccan dirhams in a photo illustration at a currency exchange in Casablanca, June 29, 2017. The picture was taken on June 29, 2017. REUTERS/Youssef Boudlal/Illustration
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Moroccan Banks Invest $1.84 Billion in Africa in 10 Years

Dealer counts Moroccan dirhams in a photo illustration at a currency exchange in Casablanca, June 29, 2017. The picture was taken on June 29, 2017. REUTERS/Youssef Boudlal/Illustration
Dealer counts Moroccan dirhams in a photo illustration at a currency exchange in Casablanca, June 29, 2017. The picture was taken on June 29, 2017. REUTERS/Youssef Boudlal/Illustration

Moroccan bank investments have exceeded MAD17.5 billion (USD1.84 billion) in 25 African states between 2007-2017, according to a report issued by the Ministry of Economy and Finance.

The report revealed that the investments in this period represented 52.2 percent of total Moroccan investments in Africa distributed as follows: 16.4 percent in the telecommunications sector, 12.3 percent in industry and 5.8 percent in insurance.

It added that despite the geographical diversity, the investments were mainly carried out in specific countries such as Egypt (30.5 percent), Ivory Coast (19.4 percent) and Senegal (12 percent).

The report revealed that Attijariwafa Bank, BMCE Bank and the Banque Centrale Populaire (BCP) have signed deals with African governments and banks of African countries as part of the expansion of cooperation between Morocco and African partners.

The deals dealt with funding programs of infrastructure, socio-economic projects, and government budgets.

Total client deposits at African branches of Moroccan banks reached MAD188 billion (USD20 billion) respectively as follows: Attijariwafa Bank (48.6 percent), BMCE Bank (33.2 percent) and the Banque Centrale Populaire (18.2 percent).

African client deposits at Moroccan banks have grown 13.5 percent since 2009, said the report. Senegal comes first in terms of deposits by around 16.4 percent, followed by Ivory Coast (12.2 percent), Tunisia with 11.9 percent and Egypt (10 percent).

Total loans of Moroccan banks to African clients reached MAD159.6 billion (USD17 billion) distributed as follows Attijariwafa Bank (47.8 percent), BMCE Bank (31.9 percent) and the Banque Centrale Populaire (20.3 percent).

The report called on Moroccan banks in Africa to expand their operations and grant priority to technological developments.

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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.