According to the article’s author, Roberto León Ramírez, this vision is geared towards generating jobs for young people, developing African agriculture and promoting renewable energy.
Morocco has been gradually strengthening its investments in sub-Saharan African countries for several years, as part of a “strategic vision based on the creation of strong alliances between Morocco and African countries” through the numerous tours made by HM King Mohammed VI in these regions.
“These tours were mainly aimed at “promoting the process of African cooperation, as part of a ‘win-win’ economic equation,” says the former Chilean MP, who is a lawyer by profession.
Moroccan companies wishing to internationalize their activities are part of this “strategic direction” of the Kingdom which wants “to create an economic bloc in Africa, capable of negotiating and defending the vital interests of the continent,” said Roberto León.
“This strategy, associated with the style of government of King Mohammed VI, is based on the search for new partners, as part of the policy of diversification of economic and trade relations at the international, continental and regional level,” continued the columnist.
In the same context, the Chilean exert further noted that this strategy has enabled the Kingdom to “become a major investor in sub-Saharan Africa and in particular in West African countries.”
He also cited a recent report by the Ministry of Economy and Finance which states that Moroccan investments on the African continent have increased from MAD 907 million in 2007, to MAD 5.4 billion in 2019.
These investments, which represent 47% of total Moroccan foreign direct investment, are made in more than 14 African countries, including Côte d’Ivoire, Chad, Senegal, Madagascar, Cameroon (4%) and Mauritius.
