Benali demande un financement à long terme et abordable

In a video message projected during a conference organized by Casablanca Finance City Authority (CFCA) in partnership with the Organisation for Economic Co-operation and Development (OECD) Development Centre, Mme Benali highlighted the persistent challenges facing the African continent, despite having the potential to become the solution to the major challenges of the 21st century. She emphasized that Africa receives less than 12% of its climate finance needs, even though it has the potential to become a global climate solution. The lack of active solidarity significantly hinders the momentum of the continent’s agreement.

The conference focused on the 5th edition of the « African Economic Outlook » report jointly produced by the African Union Commission and the OECD Development Centre. The report aligns with Morocco’s long-standing commitment to mutually beneficial partnerships for African countries, as stated by the official.

The Director General of Casablanca Finance City Authority (CFCA), Saïd Ibrahimi, highlighted the urgent challenge of financing sustainable development in Africa. He acknowledged that Africa emits the least greenhouse gases but bears the brunt of the consequences. He stressed the continent’s need to adopt an ambitious and proactive policy to leverage its rich potential, requiring significant investments in green initiatives with crucial international community support.

Casablanca Finance City, as a platform for African investment, plays a vital role in facilitating access to capital for projects related to renewable energy, sustainable resource management, and green infrastructure. The OECD Development Centre Director emphasized the importance of developing regional value chains to unlock the continent’s economic potential, particularly in the energy sector, and shield it from external shocks.

The African Continental Free Trade Area (AfCFTA) was lauded for its potential to more than double foreign direct investment in Africa by establishing common positions on investment laws, competition, and intellectual property. The report underscored the feasibility of bridging the financing gap with international and regional coordination, amounting to less than 0.2% of global financial assets and only 10.5% of African-held financial assets.

This edition of the report focuses on the financing challenges of the Sustainable Development Goals (SDGs) in Africa, given the estimated $1.6 trillion financing gap until 2030. The CFCA quarterly CFC Insights conferences aim to inform financial market members and stakeholders of the Moroccan institutional and economic ecosystem about the opportunities presented by the African continent.

In conclusion, the