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MOROCCO: King Mohammed VI Opens Doors to Africa

MOROCCO: King Mohammed VI Opens Doors to Africa

Sponsored Report A ROLE MODEL FOR AFRICA

MOROCCO Tanger Med port complex, the largest in Africa the major ports in Morocco, and taken part in the majority of key Mohammed VI mega-projects in the Kingdom, from monuments and wind farms to tourist resorts. Joseph opens doors to Africa Roger Sahyoun, the company’s Chairman, credits the King with making the company’s ex- Moroccan players are now well placed to develop pansion possible, saying “His internationally, thanks to the unyielding commitment of His King Mohammed VI opened the doors to Africa for Majesty King Mohammed VI to the co-development of Africa us.” And in 2018, the King plans to further pick up the pace, with Since he came to the throne a member of the AU. Then, in his agenda for official visits to in 1999, Morocco’s King Mo- June 2017, Morocco applied to Africa even fuller than in 2017. hammed VI has made some 50 the Economic Community of In 2018, several major proj- visits to more than 25 African West African States (ECOW- King Mohammed VI of Morocco ects will see Moroccan invest- countries, signing around 1,000 AS) with positive reception; it ments in sub-Saharan Africa partnership agreements and had left the continental body bear fruit. However, the King- methodically establishing the in 1984. The Kingdom’s appli- was the leading African investor dom’s investments in this re- Kingdom of Morocco’s pres- cation to ECOWAS is a logical in terms of capital expenditure gion remain largely the preserve ence throughout Africa. His continuation of its return to in 2016 and now has the most of big groups, with home-grown objective: to strengthen the the AU; belonging to regional attractive business and invest- SMEs lagging behind when it country’s diplomatic, economic communities opens up essential ment climate on the continent, comes to making their mark on and trade relations with the rest channels through which a mem- according to Ernst & Young. the continent. But the King is fully aware that This may be partially due to “His Majesty King Mohammed VI opened the doors Morocco’s development has the fact that many Moroccan to Africa for us.” never been more dependent on SMEs are family-run and do Joseph Roger Sahyoun, Chairman, SOMAGEC that of the continent as a whole not easily mobilise the human and wants the Kingdom to be a and financial resources required key protagonist in pan-African to set up abroad and cope with of the continent, simultaneous- ber country’s relations with the structural projects. competitive pressures. Howev- ly transforming Morocco into a AU transit. Few Moroccan companies er, it is a reality that is deemed gateway to Africa. While culturally speaking know better about expanding “perfectly normal” by Mohamed In 2017, the King’s campaign- Morocco’s identity may be said into Africa than SOMAGEC Boussaid, Morocco’s Minister ing led to important milestones to align with Arab states, its (Société Maghrébine de Génie of Economy and Finance, who being achieved in Moroccan-Af- economic interests increasing- Civil), one of the first to do so stresses that public authorities rican relations. In January 2017, ly lie in Africa and the King is with moves into countries such are actively suporting SMEs the country was readmitted to backing moves to explore op- as Senegal and Equatorial Guin- through a framework of coop- the African Union (AU), three portunities in sectors from min- ea. Founded in 1966, it is the eration agreements and facili- decades after leaving the body’s ing and construction to med- largest construction company in tation measures with partner previous incarnation as the Or- icine, and banking , and one of the conti- countries, as well as through ganisation of African Unity. Pri- across the continent. Morocco nent’s most important civil-en- awareness-raising and network- or to rejoining, it was the only is no newcomer to the world of gineering firms. It has contrib- ing actions carried out by eco- country in Africa that was not heavy investing in Africa — it uted to the construction of all nomic development agencies.

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SOMAGEC: A case study for Moroccan companies seeking to expand in Africa

Chairman of Moroccan infrastructure expert SOMAGEC, Joseph Roger Sahyoun, says financing is the major hurdle for Moroccan companies eager to operate across the continent

PR To what do you attribute the cheaper. But our real challenge was company’s success in becoming to earn the trust of the state, which a Moroccan leader in the con- we achieved over time by building a struction sector? solid reputation in the very complex JRS Our company SOMAGEC (So- maritime sector where we became the ciété Maghrébine de Génie Civil) grew leader. in tandem with the country’s economy and infrastructure. Foreign companies PR In 2005, you created your fed this growth and gave us the means subsidiary in . and tools to develop. At that point in How did you manage to conquer time, the state put all its trust in them, the African market? making it hard for Moroccan compa- JRS Morocco was our launch- nies to gain a foothold and do business pad and our testing ground. The first Tarfaya wind farm, on the Atlantic coast with the government. The categorical country we expanded into was Sene- refusal of foreign companies to operate gal where it quickly became apparent on a level playing field with us meant that we were 25 to 30% cheaper than Moroccan company could even con- any interest in letting us win market- we were forced to compete head-to- the French companies that were al- template exporting its savoir-faire share? I constantly see companies head with them. This wasn’t hard; as ready there. SOMAGEC ended up without the backing of a funder. trying to set up in Africa thinking a local sub-contractor we were 40% generating higher margins than in they have found a golden opportuni- Morocco although we were cheaper PR Funding is the real sticking ty, only to be dealt a hard blow. than the market rate. The multina- point for Moroccan SMEs as SOMAGEC — TOP FACTS tionals were slow to react, thinking they try to compete with multi- PR How are the Chinese step- they had the market conquered. nationals, wouldn’t you say? ping in with financing? Our next destination was Equatorial JRS Morocco today finds itself in JRS The Chinese have been a step • Founded in 1966 (its 50-year Guinea where we helped the recovery a delicate situation: we have some of ahead in investing heavily across the anniversary was in 2016) of the local economy and spent a de- the best professionals but hardly any continent and offering simple solu- • Pioneer in port and maritime cade working on the country’s major ability to self-fund. His Majesty King tions for the public works sector, infrastructure in Morocco construction sites. We really landed Mohammed VI has opened up Africa which is one of Africa’s main priori- • A leader of civil engineering ties. But at some point we’re going to in Africa and among the first Morocco is overbrimming with players who are equally have to come up with an alternative Moroccan companies to start as talented and knowedgeable as SOMAGEC. But an model. Underpinning Morocco is a operating across the continent strong economic fabric of individuals • Contributed to the construction of inability to self-fund often puts the breaks on ambitions.” able to rival the best and take on the all the ports in the Kingdom (from Joseph Roger Sahyoun, Chairman, SOMAGEC continent’s infrastructure projects. to the ongoing Tanger How about a US-Moroccan sup- Med’s second phase — Tanger on our feet. for us, but if a Moroccan company port fund for Moroccan companies? Med is one of the largest ports in Competitors try to carve out their wants to be involved in a large-scale If we just do nothing the whole of Africa) place in this market but experience project, it has no option but to find a Morocco’s economic tissue could • Participated in most major does count; I’ve been training our en- partner to finance it, which often puts unravel, undoing over two decades infrastructure projects in Morocco gineers for over 30 years and we boast the breaks on ambitions. Morocco is of hard work. Now that His Majesty (strengthening the foundations of strong technical skills. overbrimming with players who are has led Africa to put its faith in us, we the Hassan II , developing SOMAGEC has also been luckier equally as talented and knowledge- have to really go for it. We have just ’s Bouregreg Valley and the than others to some degree. Oil pric- able as SOMAGEC. Even for us, we one boss and that is His Majesty. As Casablanca Marina) es were high during the years that we have to face tough competition such his political and economic actors on • 2004: Won the tender for the entered the African market. It would as the US giants present in Mozam- the ground we are all part of one army extension of Senegal’s Port of now be much harder for a Moroccan bique. Do you really think they have striving towards a common goal. Dakar company to survive the business • 2005: Joseph Roger Sahyoun, adventure we threw ourselves into. Chairman, created the Equatorial The truth is that it’s a huge challenge Société Maghrébienne Guinea subsidiary today to be a Moroccan professional de Génie Civil (SOMAGEC) • 2007: Riad Motors was created, embracing the international market. Rue Mohamed El Mesfioui & Corbi, a wholly owned subsidiary What happens if the client doesn’t Casablanca, Oukacha, Morocco dedicated to the adaptation of pay? You can’t do a thing. Now with Tel: +212 5 22 35 45 91 professional vehicles oil prices very low, I can’t see how a Website: www.somagec.ma

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Africa’s most attractive economy in great shape

Standing head and shoulders above its nearest competitors on 2021 annual meetings will take ment that it has embraced,” states place in Marrakech — the first Mthuli Ncube, Head of Advisory, the continent, Morocco’s economy and FDI flows are booming time the high-profile meetings have Managing Director of Quantum been held in Africa since 1973. Global Research Lab. Morocco remains Africa’s most pects as “favourable”, with growth “Morocco’s receptive business attractive investment destination expected to reach 4.5% by 2021. Setting the benchmark for Africa environment, along with its low- by far, as the ambitious nation IMF’s Executive Directors com- According to the latest Africa risk profile, the size of its economy captures significant inward flows mended the authorities for the Investment Index 2018 by (the fifth largest in Africa), and its of foreign capital — FDI was esti- “sound macroeconomic policies Quantum Global Research Lab, strong social capital factors, makes mated at an impressive $2.5 billion and reform implementation that Morocco is the most attractive it the best place to invest on the in 2017 (up 12% year-on-year) — have helped improve the resilience economy for investments flowing continent.” particularly in key sectors such as of the Moroccan economy, up- banking, tourism, and energy. grade the fiscal and financial policy What has propelled Morocco to the top position of the AAI Earlier this year, Morocco’s Min- frameworks, and increase economic is the size of its economy, its very favourable business ister of Finance and Economy, Mo- diversification. hamed Boussaid, reaffirmed the “Growth has recovered and climate, and the macroeconomic risk management.” upbeat outlook of annual economic should reach 4.4% in 2017, al- Mthuli Ncube, Head of Advisory, MD of Quantum Global Research Lab growth of 3.2% for 2018, a figure though non-agricultural activity re- that would mean the nation main- mains subdued. Inflation is low and into Africa and is considered as Always open to new ideas, Mo- tained its fiscal upward trajectory well-anchored. The fiscal deficit is one of the best emerging markets rocco recently introduced crowd- despite the headwinds buffeting expected to decline to 3.5% in 2017 anywhere in the world for overseas funding to its 35 million citizens the global economy. and public debt is sustainable,” the investment. and established a bill to regulate it. That positive forecast was team of economists added follow- “What has propelled Morocco Spearheaded by Minister Bous- echoed by the Washington D.C.- ing a visit to the country.” to the top position of the Africa said, the draft was a continuation based International Monetary Morocco received a further vote Investment Index (AAI) is, above of steps the pro-business admin- Fund (IMF), which issued a 70- of confidence from the IMF and all, the size of its economy, its very istration has taken to improve en- page report in which it described the World Group (WBG) favourable business climate and trepreneurial spirit and nurture in- Morocco’s medium-term pros- when the pair announced their the macroeconomic risk manage- novative projects across the nation.

Why invest in Morocco? #1 MOST ATTRACTIVE COUNTRY IN AFRICA (FDI)

Morocco, a true African success story #3 BEST COUNTRY FOR BUSINESS IN AFRICA #1 African country for American FDI (FORBES 2017)

#3 Doing business in Africa in 2018 #5 COUNTRY IN AFRICA IN TERMS OF COMPETITIVENESS #1 Financial center in Africa (WEF 2017-2018)

#2 African investor in Sub-Saharan Africa

IMF lauds Morocco’s currency liberalization in 2018 #1 COUNTRY IN AFRICA IN LINER SHIPPING CONNECTIVITY (UNCTAD 2018) Ranked among the safest destinations by US government

#2 COUNTRY IN AFRICA Moroccan companies are present in more than 30 African countries IN TERMS OF INFRASTRUCTURE QUALITY (WEF 2017-2018) National carrier Royal Air Maroc connects the US to nearly 30 African cities

Agence Marocaine de Développement des Investissements et des Exportations (AMDIE)

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late 2019, Crédit Agricole is major- Banking on Morocco, ity-owned by the government and ideally positioned to support firms and investors seeking to take ad- Africa’s partner for growth vantage of the wealth of openings in the agricultural industry. “With the development of The banking sector is not only the most modern and open in agro-industry, agriculture has be- the country, but has also attracted the most talented people come an interesting market for classic retail banking says Tariq Sijilmassi, President of Crédit Ag- Considered the ideal example for states , Minis- ricole, adding the group has grown other countries on the continent ter of Economy and Finance. rapidly to become the fourth larg- Mohamed Boussaid to learn from, Morocco’s banking “The sector is very profitable Minister of Economy and Finance est bank in the country. and financial services sector bene- and plays in the big leagues. The “Financing needs have increased fits from a modern and stable reg- expansion of Moroccan countries,” explains Saïd Ibrahimi, dramatically with the launch of the ulatory framework that is a pow- across sub-Saharan Africa is re- CEO of CFCA. “These multi- Green Morocco plan, demonstrat- erful catalyst for socioeconomic markable. Moroccan banks share nationals need a base camp from ing the growing role of agriculture development through its consider- their know-how with other African where they can pursue business as the engine of Morocco’s econo- able contribution to the financing countries that today face the prob- opportunities.” my,” adds Crédit Agricole Director of the economy. lems Morocco once faced.” General, Jamal Eddine El Jamali. Sowing the seeds for GDP growth “Agricultural GDP has grown Morocco has had a strong, well-managed banking sector As an eager supporter of the at an annual rate of 7%, well above for decades, which contributes to development. The “Green Morocco” plan — an the rate of growth of the Moroccan initiative launched a decade ago economy observed in recent years. sector is very profitable and plays in the big leagues.” to make agriculture a growth “We created an innovative new Mohamed Boussaid, Minister of Economy and Finance engine for the economy — and system of credit (mesocredit) with around 1.5 million of its that has become an international Strong macroeconomic funda- The Casablanca Stock Ex- clients based in rural areas, Crédit model for the financial inclusion of mentals have helped to eliminate change (CSE) is one of the larg- Agricole is a key figure in the retail smallholder farmers who tradition- shortages of liquidity, and the est and most important in Africa. banking industry. ally have been excluded from the banking landscape is competitive While in 2016, and only a few Scheduled to list on the CSE by conventional banking system.” with around two dozen banks ac- years after its creation, Casablan- tively serving companies of all siz- ca Finance City (CFC) dethroned es, and millions of individuals. Johannesburg as the best financial Such success has certainly center in Africa, according to the caught the attention of many Global Financial Centers Index. international experts, as in late Comprising CSE, the Central 2017, the Central Bank of Moroc- Bank of Morocco, and La Caisse co (CBM) was named the best in de Dépôt et de Gestion (CDG), Africa by the American magazine Authori- Global Finance. Judges awarded ty (CFCA) aims to position Casa- CBM a prestigious ‘A’ grade, with blanca as the premier gateway into only three other African nations the lucrative African markets. having won such a rating. “Africa is the continent of the “Morocco has had a strong, future, but it is also a fragmented well-managed banking sector for continent with many small econ- decades, which today contributes omies; large international groups to the country’s development,” cannot be present in 54 different

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Fast facts about a BMCE Bank of Africa leads the way true industry giant BMCE Bank of Africa is helping to drive Morocco’s economic development, while also Founded in 1959 by the enabling its strategic partners to use the country as a gateway to Africa and Europe government, BBOA is now proud to be a subsidiary of the Moroccan financial and industrial With ambition and success hard- recognised expertise and valuable a luxury resort and apartment goliath Finance Com Group. wired into its DNA, BMCE Bank experience in project finance. complex that will dominate of Africa (BBOA) is an industry Such knowledge will certain- the skyline of the city of Rabat: So large and successful is the titan and pioneer blazing a trail ly be called on for current, and BMCE Tower. Finance Com Group, that the across the region’s banking and future, infrastructure projects, “Through this tower, I want to business generates an incredible financial services sectors. including the showcase initiative send a message to our majority quarter of Morocco’s entire GDP. Now the second largest bank- launched last year by the King of shareholders: we can do banking ing group in Africa by geograph- Morocco: Tanger Tech. in Morocco while being aligned More than 14,000 employees ical coverage, and boasting op- Involving at least $11 billion of with the priorities of the nation in 32 countries serve 5.5 million erations in 20 countries, BBOA investment, this giant smart city and the needs of our communi- BMCE Bank of Africa customers, covers four of the continent’s aims to transform the ties,” explains Benjelloun. but the target is to establish a five main economic regions. region into a state-of-the-art eco- “A true banker is someone who presence in 53 countries. Since privatisation, BBOA has nomic hub and a hi-tech gateway thinks about the impact that consolidated its position as an to Europe by 2030. their activities will have on their Unsurprisingly, given its size international banking institution communities, hence why we are and reach, BBOA is highly active through the adoption of a uni- Sky’s the limit for infrastructure very proud to be the initiators in many economic sectors, versal banking model that has The exciting world-scale project of projects like Tanger Tech and including banking, insurance, served as a sturdy platform for is the brainchild of BBOA Group BMCE Tower. telecoms, transport, and tourism. growth. President Othman Benjelloun, so “Our impressive track record In addition, a diversification it is fitting his firm will play an is why we are one of only 20 in- BBOA is committed to strategy has expanded the SME integral role in its development stitutions in the world chosen corporate social responsibility customer segment and helped over the next decade. to be signatories of the United (CSR) and devotes 3-4% of its

BBOA consolidateBBOA_ANP_Instit_Afrique_178x115mm_VUK-HD.pdf its position in Meanwhile, BBOA 1is working 18/05/2018 Nations’ 12:27 Principles for Positive gross operating income to the the corporate arena thanks to its on its own impressive project, Impact Finance.” BBOA Foundation.

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FP PR Maro v7.indd 5 19/06/18 17:02 MOROCCO A ROLE MODEL FOR AFRICA Sponsored Report

Lighting the path to African energy sustainability Vast investment in power generation infrastructure and technology is energizing the economy

A comprehensive energy revolu- each sector. At the forefront “Morocco’s great infrastructure tion is well underway in Morocco of Morocco’s growing import makes it an ideal destination for as the government harnesses the and export activities is port investors targeting the Mediterra- power of nature to develop infra- management firm Marsa Maroc. nean and West African markets. structure in the wind, solar, and The partially state-owned com- Marsa Maroc’s goal is to remain hydroelectric sectors. pany is the kingdom’s leading port the national leader while becoming “Over the past decade, Morocco terminal operator with nine ports, a recognized player in the African has experienced a veritable energy meaning its large workforce works port sector by 2025.” revolution allowing us to achieve around the clock to satisfy the lo- Société Nationale de Transports ambitious objectives in terms of gistical demands of companies in et de Logistique (SNTL) is the energy independence and the inte- all sectors. foremost public company in the gration of new technologies for re- Handling around 40 million logistics arena. newable energies,” explains Abder- tonnes of goods per year from a “We are the leading freight car- rahim El Hafidi, Secretary General Director General, National Bureau of Petroleum diverse range of industries, Mar- rier in the domestic market, trans- of the Ministry of Energy, Mines and Mines (ONHYM) sa Maroc has been so successful porting nearly 20 million tonnes and Sustainable Development. since its foundation in 2006 that per year,” says SNTL former CEO, “We are building one of the larg- “We play the role of catalyst of it was listed on the CSE just a de- Noureddine Dib. “This represents est wind farms on the continent, and hydrocarbon explo- cade after its creation. roughly a fifth of the country’s to- with a capacity of 850MW, which ration in Morocco,” comments “Marsa Maroc handles the tal road freight. will allow us to produce the cheap- ONHYM Director General, Ami- majority of the flow of Moroccan During King Mohammed VI’s est energy in the world. na Benkhadra. “The density of our goods that are imported and ex- most recent tour of Africa, SNTL “The Moroccan energy model is drilling operations is 0.004 wells ported each year,” says CEO Mo- signed agreements with African becoming more attractive, and be- per 100 km², compared to the in- hammed Abdeljalil. firms in the public and private tween 2017 and 2030 will mobilize ternational average of 10 wells per “The port sector has an import- sectors for the implementation of over $42 billion of investment. 100 km². Even though more com- ant role to play in the context of a number of projects, including Morocco’s rich natural resourc- panies are arriving than before, we Morocco’s international coopera- seven memorandums of under- es include more than 900,000 km² need to invest more and drill more. tion, especially in Africa. standing (MOUs). of sedimentary basins, onshore “More than 30 wells have been and offshore that may contain sub- drilled offshore, which is very few stantial gas or oil reserves. given the extent of the basin and

As the national leader in the ports sector, Marsa Maroc handles the majority of the flow of Moroccan goods that are imported and exported each year.” Mohammed Abdeljalil, CEO, Marsa Maroc

Discovering and developing this the length of our Atlantic Ocean hydrocarbon and mining potential coastline. Morocco is a country in a sustainable way is the respon- with many undiscovered resourc- sibility of the Office National des es, but to find them we first have Hydrocarbures et des Mines (ON- to invest more.” HYM). The state-run entity conducts Logistics maps out the future 90 years of Expertise research, explores and exploits Successful logistics networks in Hydrocarbons and Mines deposits; and negotiates with in- and infrastructure are essential Exploration and Production ternational partners to maximize to support the government’s output and returns on investment. development strategies for

PORT OP ERATOR

www.onhym.com www.marsamaroc.co.ma

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World-class infrastructure drives Morocco forward Morocco had the foresight to build the critical infrastructure that acts today as the resilient backbone of the economy

Morocco’s development of an ef- ficient and streamlined logistics network did not happen over- night, but followed decades of sig- nificant public and private sector investment in modern transport infrastructure. In addition, for each mode of ADM is a catalyst for trade and economic activity. We are transport — marine, rail, road, always on the lookout for the latest traffic technologies.” and air — there is a public compa- ny whose mission is to develop in- Anouar Benazzouz, Director General, Autoroutes du Maroc (ADM) frastructure and related services. “Morocco’s goal is to play a ing 3,600 kilometers of tracks, and Benazzouz, Director General of Abdelkader Amara key role in the development of Minister of Equipment, Transport, 133 stations. Autoroutes du Maroc (ADM), the African continent,” outlines Logistics and Water The state-owned firm’s rolling the state-owned entity responsi- Abdelkader Amara, Minister of stock includes a new high-speed ble for maintaining the highways Equipment, Transport, Logistics then a high-speed line connecting train that will transfer people be- that criss cross the country. and Water. Marrakech to . tween cities in record time. “ADM is a catalyst for trade “We have about 40 ports, in- “These are key routes for the and economic activity. Infrastruc- cluding large hubs meaning we are economy, and will allow business Highways fuel economic growth ture is not governed by a financial well-positioned for global trade, leaders to move quickly between As the economic arteries of equation, but by socioeconomic both in terms of transshipment different commercial centers.” Morocco, the thousands of reason. and import-export. Morocco’s rail network is rated kilometers of motorways and “We have adapted to this ex- “From Tangier to Casablanca, the best at the Arab-African level highways are vital to the nation’s ceptional growth by focusing on from Marrakech to Agadir, we in terms of competitiveness and socioeconomic performance. security, fluidity and services, and have a motorway network con- quality, according to a recent re- Two thirds of the population is are always on the lookout for the directly connected to the motor- latest technologies to streamline Morocco’s goal is to play a key role in the development way network, with 70% of the pop- traffic. of the African continent.” ulation served by the motorway “Electric charging stations will network or expressways. gradually be installed along our Abdelkader Amara, Minister of Equipment, Transport, Logistics and Water All cities with more than highways from 2018. We are in 400,000 inhabitants are connected talks to make this investment sus- necting key commercial centers. port by the World Economic Fo- to motorways, with only a handful tainable, and this initiative more “In aviation, our airports serve a rum (WEF). of cities of at least 100,000 people than symbolic. significant number of African cap- The kingdom’s award-winning not linked to the motorway sys- “We have won the respect and itals. While, our flagship rail proj- rail operator is Office National tem. esteem of international institu- ect is the high-speed line between des Chemins de Fer (ONCF). In “Our projects are attracting tions and donors; moreover Afri- Tangier and Casablanca, connect- 2017, ONCF carried 40 million businesses that are gradually can countries are replicating the ed to a medium-speed line be- passengers and 30 million tonnes investing in newly connected re- model of ADM and all that we tween Casablanca and Marrakech, of freight on a network compris- gions, like ,” explains Anouar have accomplished in 25 years.”

Connecting Morocco to its future So far, we have built the longest cable-stayed bridge in Africa and 1,800km of world-class highways to ensure your goods reach their destination and your people drive home safely.

Hay Ryad, Rabat, Morocco Tel: +212 5 37 57 97 00 www.adm.co.ma

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Morocco: Africa’s thriving industrial hub sets high continental benchmark

A complete transformation of the Moroccan economy and its industrial sector has occurred over the past few years

Morocco’s incredible industrial panies who come to us every day,” band, positioning Morocco at the revolution over the past decade states Minister Elalamy. “We sign forefront of African ICT uptake. has been a sight to behold, with contracts every week that bring Now in its 20th year of regu- some of the world’s largest com- huge investments. At the Frank- lating the fast-growing telecoms panies battling to secure prime furt Motor Show, we met 320 sector and ensuring healthy real estate for state-of-the-art players in the automotive sector competition, Agence Nationale factories, support infrastructure, and in 48 hours reached agree- de Réglementation des Télécom- research facilities, and offices. ments with two of the world’s munications (ANRT) is a for- Billions of dollars of FDI have- market leaders. ward-thinking public agency that flooded into sectors such as aero- “Today, Morocco is no longer aims to position Morocco as a nautics, automobile production a source of cheap labor, but a leading player in the field of ICT. — Nissan makes around reliable source of well-trained en- “In 2017, subscriptions, espe- 1,000 cars daily — and manufac- gineers, with a competitive logis- cially in mobile networks, contin- Moulay Hafid Elalamy turing operations — where train Minister of Industry, Investment, tical structure, with state support ued to grow at a very high annual giant Bombardier is investing Trade and Digital Economy and a high level of investment rate,” notes ANRT Managing Di- heavily — and creating thou- protection.” rector, Az-El-Arabe Hassibi. sands of jobs, so generating huge is performing even better than The development of a digital “Mobile Internet 4G reached revenues for the government. officials ever imagined, according ecosystem is a must for Morocco over 6.8 million customers at the Impressive progress has also to Minister of Industry, Invest- so it can nurture a successful and end of 2017, against 2.8 million been recorded in industrial areas ment, Trade and Digital Econo- innovative digital sector. Three customers at the end of 2016, up like agri-food, textiles, pharma- my, Moulay Hafid Elalamy. operators offer 4G mobile broad- 143% year-on-year.” ceuticals, and various free zones, The pioneering plan is cen- making the industrial sector Mo- tered on the implementation of efficient ecosystems that boost Maximizing investors’ competitiveness Morocco is no longer a integration in value chains, as well source of cheap labor, as the consolidation of the local A $100 million annual investment for multinationals relations between big firms and but a source of well- SMEs. PR: How would you describe MEDZ? trained engineers, with The innovative and compre- OE: It is a subsidiary of CDG Group, Mo- a competitive logistical hensive industrial growth blue- rocco’s first institutional investor, that sup- infrastructure.” print was launched in 2014, and ports sectoral policies launched by public provides for the formation of a €2 bodies. We have set up more than 20 busi- Moulay Hafid Elalamy billion public industrial invest- ness parks in high-potential sectors, such Minister of Industry, Investment, ment fund. The strategy includes as automotive, aeronautics, agro-industry, Trade and Digital Economy a range of fiscal incentives and tax offshoring and tourism, to provide quality advantages, and commits partic- infrastructure for firms and attract foreign rocco’s real growth engine. Be- ipants to work to support Mo- investment. We have provided space to over tween 2017 and 2020, more than rocco’s partnership with African 300 firms and about 100 multinationals, 300,000 new industry jobs will be countries to reinforce its position such as Bombardier, Eaton, Lear, Delphi, Omar Elyazghi formed. as the principal gateway for FDI DELL and IBM. Today, our parks employ Chairman, MedZ Guiding this eye-catching in- across the continent. more than 60,000 people, meaning that MEDZ has enabled profitable dustrial growth is Morocco’s In- “For years, we had to solicit foreign investments in Morocco. dustrial Acceleration Plan, which companies, but now, it is the com- PR: What two projects best represent the MEDZ’s business model? OE: We are satisfied with all our achievements and tailor-made solu- tions. In the industrial sector, MEDZ offers equipped lands and turnkey plants in strategically located industrial zones. Atlantic Free Zone could be our emblematic project, with 20,000 people employed there and the future implementation of PSA Group and its suppliers. In outsourcing, ENVISIONING we propose plug-and-play office spaces and a world-class service through THE FUTURE four parks (in ITO, BPO, CRM and ESO). Our flagship is Casanear- EVERYDAY shore, which has attracted the world’s largest multinationals and helped promote Morocco as a regional outsourcing hub. These achievements motivate us to consolidate our offer and to ensure a business-friendly environment for our customers’ sustainable competitiveness.

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FP PR Maro v7.indd 8 19/06/18 15:31 Sponsored Report MOROCCO A ROLE MODEL FOR AFRICA

Wealth of human resources is powerful magnet for foreign investors in broad spectrum of sectors

With a growing economy rapidly moving up through the gears, Morocco is fortunate to have a young population eager to take full advantage of all the opportunities created

With almost 17 million people the infrastructure network link- “Once launched, this new aged under 25, Morocco has a ing the north and south, and east body will serve as a tool to pro- huge pool of talent from which and west. New ports, motorways, mote in Hicham Boudraa to satisfy its growing appetite for and airports have been built, and the sector,” he adds. Acting CEO, Moroccan Agency for the energetic, ambitious and skilled investors have been very percep- “Such projects can also even- Development of Investments and Exports (AMDIE) workers for all economic sectors. tive of these structural changes.” tually create young national Placing the right individual champions in technology, and “Morocco is a country that has with the right company is all in a Teamwork achieves great results give investors in Silicon Valley achieved only 20% of its econom- day’s work for leading temporary Based on the concept of “Team ideas. We must seek to give hope ic potential to date. We still have recruitment agency Tectra. Morocco”, a dozen ecosystems to our talented Moroccan youth. a lot to accomplish and achieve.” Boasting more than 800 cli- have been created through the ents, over two dozen agencies bringing together of highly- and 32,000 temporary workers, skilled professionals from the the human resources specialist public and private sectors. Kitesurfing hotspot hits new heights has certainly come a long way in “Our role is to communicate a little less than two decades. that there are platforms in Mo- Investors are flocking to Dakhla to tap its massive potential With an impressive track re- rocco that allow giants such as cord for matching employees Boeing to produce up to 20% with employers, Tectra’s strong cheaper while respecting their client portfolio now includes requirements in terms of quality large multinational operator and production time,” explains such as Unilever, and Delphi. Hicham Boudraa, Acting CEO of the Moroccan Agency for the “Morocco is positioning Development of Investments and Exports (ADMIE). itself at the forefront of “Investors will not settle for future technologies.” Morocco producing goods for PK25 Hotel, Dakhla Hicham Boudraa just the local market. We must manufacture for the world as One of the world’s top kitesurfing destinations, sun-soaked and wind- Acting CEO, Moroccan Agency for a whole, which we cannot do if swept Dakhla attracts tens of thousands of thrill-seekers and tourists the Development of Investments we do not incite demand for our a year, and recently embarked on an ambitious strategic development and Exports (AMDIE) products. plan as the region looks to establish itself as the Gateway to Africa. “Morocco is gradually posi- With an enviable strategic location and a fresh focus on economic “We have grown from the tioning itself as a country at the diversification through greater activities in agriculture, fisheries, and 202nd largest Moroccan compa- forefront of future technologies logistics, Dakhla is a hive of activity for economic development and a ny about 10 years ago, to 66th in by promoting new sectors, such powerful magnet for major international investment. 2017.” says Tectra CEO, Roland as the production of electric cars “Dakhla is undergoing a complete transformation and major eco- Gaudiau. “At this rate, we will be by the Chinese giant BYD Auto nomic development,” says Yanja El Khattat, President of the Regional one of the 50 largest firms in the Co. Ltd.” Council of Dakhla-Oued-Eddahab. “In 2015, a new model of devel- country in the next few years. Boudraa is certainly very up- opment for the southern regions was launched involving investment “Our strength lies in our prox- beat and excited about a new dig- of $8.3 billion. imity to our partners and cus- ital development agency that will “This new model represents a key vector for the development of tomers via our 27 agencies. Mo- kick off a national digital strategy the regional economy, and includes several major infrastructure proj- rocco has grown at a crazy pace modeled on successful experi- ects, such as an Atlantic port, a fishing port south of Dakhla, and a in recent years, as evidenced by ences from around the globe. modern highway that will link Europe and sub-Saharan Africa.”

We help you find and train the talents you need to succeed in Morocco and Africa

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