Morocco can be a platform for growth and a gateway to Africa for American companies wishing to establish themselves on the African market, President of the General Confederation of Moroccan Enterprises (CGEM), Chakib Alj, stated on Tuesday in Luanda.
Speaking at a round table themed “Fostering private sector-led growth in Africa,” organized as part of the 17th CCA U.S.-Africa Business Summit held in Angola’s capital, Alj said that the Kingdom enjoys stability at all levels, a very encouraging investment charter and solid talent and infrastructure, citing roads, ports and airports in particular.
He said that Morocco has also achieved great success in several fields, including aeronautics, the automotive industry, food industry and renewables, adding that the country also enjoys a forward-looking vision, close collaboration between the private and public sectors and offers many opportunities with the organization of the 2030 World Cup.
“Under the wise leadership of His Majesty King Mohammed VI, Morocco is convinced that Africa’s economic development depends on strengthening its integration,” he said, adding that the CGEM is prepared today to mobilise its network, expertise and partnerships to build tomorrow’s African value chains.
He noted, however, that although Africa has abundant and varied resources, it contributes only 2% to global industry, and that the trade flow between African countries does not exceed 15%, compared to 58% in Europe and 68% in Asia, while by 2050 at least 50% of the world’s population will be African, 50% of whom under 25.
The CGEM president is convinced that Africa’s integration can only be achieved through industrialization and the development of regional value chains, investment in infrastructure and a strong alignment between public policies and the dynamics of the private sector.
The study conducted by CGEM in 2022 with the African Development Bank on the synergies between African value chains presents six key levers for accelerating Africa’s growth, he said.
The aim is to integrate African SMEs into regional industrial ecosystems, to promote a competitive and innovative “Made in Africa” or “Made with Africa”, meeting both local needs and international markets, and to develop modern logistics and energy infrastructures to stimulate intra-African trade and industrial competitiveness, with the implementation of the African Continental Free Trade Area (AfCFTA).
Accelerating growth on the continent, he explained, also requires creating accessible and innovative financial tools tailored to SMEs, investing in the development of talent to equip Africa’s youth with skills of the future, harmonizing regulations and improving access to information to facilitate commercial and industrial cooperation.
Noting that industrial integration in Africa must go hand in hand with a shared energy transition, Alj cited the case of Morocco, a pioneer in the field of solar, wind and green hydrogen, which is aiming to achieve 52% clean energy in its energy mix by 2030. He stated that this ambition will be achieved by 2027.
The success of African regional integration, he continued, also depends on the commitment of international partners such as the United States, which support private sector-led growth, technology transfer and capacity building, play a catalytic role in financing sustainable infrastructure and entrepreneurship in Africa, and promote connectivity and mobility.
“We are committed to concrete, ambitious and mutually beneficial South-South and triangular cooperation with the United States,” he concluded.
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