CFC is an African financial and business hub located at the crossroad of continents. Recognized as the leading financial center in Africa and partner of the largest financial centers, CFC has built a strong and thriving community of members across four major categories: financial companies, regional headquarters of multinationals, service providers and holdings.
What is the Casablanca Finance City Authority?
Casablanca Finance City Authority (CFCA) is a limited company born from a public-private partnership aiming to position Casablanca as a regional financial hub in Africa. CFCA was established in July 2010 through a high-level roundtable meeting, including the Region of Casablanca-Settat, the Central Bank of Morocco, the main Moroccan banks, the central securities depository, the insurance industry, and the Casablanca Stock Exchange.
Recognized as the leading financial center in Africa and a partner of the largest international financial centers, CFC has built a strong membership community of finance companies, regional headquarters of multinationals, service providers and holding companies.
CFC offers its members an attractive value proposition and quality “doing business” support to promote the deployment of their activities in Africa. Driven by the ambition to satisfy its community, CFC is committed to promoting the African expertise of its members while stimulating synergies and business opportunities within its network.
Chiffres clés : CFC
Economy
Morocco is an open economy giving access to a free market of one billion consumers.
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Morocco is an open economy giving access to a free market of one billion consumers:
- Morocco has put in place “solid macroeconomic policies and reforms that have contributed to reducing internal and external vulnerabilities, improving fiscal and financial policy frameworks and increasing economic diversification”. (IMF, 2017)
- Fitch Ratings and Standard & Poor’s maintained Morocco’s investment-grade rating since 2007 and ranks Morocco third in Africa.
- According to the IMF and the World Bank, Morocco is 3rd in Africa (after Mauritius and Rwanda), gaining 9 points in the “Doing Business 2019” index.
Investments
Morocco is 2nd largest intra-African investor in Africa.
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Morocco is the 2nd largest intra-African investor in Africa. 85% of Morocco’s FDI outflows go to Africa.
Morocco has a strong economic footprint in Africa as more than 85% of Morocco’s Direct Foreign Investment (FDI) goes to Africa. The Moroccan financial sector (banking, insurance) is present in 34 African countries. The Saham group is present in 22 countries, BMCE BANK in 19 countries, Attijari Wafabank in 14 countries and the Banque Populaire group in 17 countries. Morocco is the 2nd largest intra-African investor in Africa with a total of 22 projects valued at $ 5 billion in 2017.
Doing business
CFC offers business facilitation and simplified procedures.
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Through partnerships with 18 African countries, CFC provides its members with the opportunity to have local support to facilitate their business on the continent. CFC also organizes regular events to introduce investment opportunities and one-on-one meetings.
Fast track administrative process
- An accelerated administrative procedure for company setup formalities within 48 hours
- Simplified procedures for « business » visas, foreign employment contracts, and residency permits
Facilitating people flow and exchange control
- Facilities for hiring foreign employees
- No exchange control on foreign currencies
- Unrestricted transfer of management and technical assistance fees within the group
Casablanca International Mediation & Arbitration Center (CIMAC)
- Accelerated procedure
- Independent body
- Experienced and world-renowned members
- Operating in 4 languages: English, Arabic, Spanish and French
Infrastructure
Morocco has the 2nd best infrastructure in Africa (WEF 2019).
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Morocco has 2nd best infrastructure in Africa (WEF 2019)
Located at the confluence of the Atlantic and the Mediterranean, of which it is the first gateway, the Kingdom of Morocco enjoys a unique geo-strategic position that allows it to be located at the crossroads of several civilizations (Tangier is less than 14 km from Europe) as well as act as a moderator of a three-dimensional economic dialogue that gives access to a potential market of nearly one billion consumers.
Morocco is the 5th country with the best infrastructure in Africa (WEF 2016-2017). It has the best maritime connectivity in Africa and is ranked 16th in the world. Morocco has 15 international airports, with Casablanca as the 1st Europe-Africa hub. From Casablanca, 33 direct flights are scheduled to African destinations.