• Casablanca Finance City becomes Africa’s top financial centre
• GFCI ranking shows shifting competitiveness among African financial hubs
• Index combines global data indicators and professional market perceptions

Casablanca Finance City (CFC) has overtaken Mauritius as Africa's most competitive financial centre, according to the 39th edition of the Global Financial Centres Index (GFCI), published on Thursday, March 26, 2026, by London-based think tank Z/Yen Group in partnership with the China Development Institute.

CFC ranked 49th in the semi-annual index, which evaluates 120 international financial centres based on their competitiveness and attractiveness to investors, finance professionals and businesses worldwide.

Casablanca Finance City gained seven places from the previous edition, ranking fourth in the Africa and Middle East region, behind the Emirati centres of Dubai, Abu Dhabi and Doha. The African-focused hub, seen as a gateway to the continent, hosts more than 200 member companies across four main categories: financial institutions, regional headquarters of multinationals, service providers and holding companies.

Methodology based on data and market perception

The Mauritius International Financial Centre ranked second in Africa and 50th globally, up two places from the previous edition.

Kigali (Rwanda), ranked 72nd globally, placed third in Africa despite falling seven places, ahead of Johannesburg (South Africa), which rose 14 places to 80th globally and fourth in Africa. Cape Town (South Africa, 96th globally), Nairobi (Kenya, 114th) and Lagos (Nigeria, 118th) completed the African rankings.

Four of the seven African financial centres in the index rose compared with the previous edition, namely Casablanca, Mauritius, Johannesburg and Lagos. Kigali, Nairobi and Cape Town declined.

A survey of professionals in global financial centres found Mauritius, Kigali and Casablanca among the 15 centres most likely to gain importance over the next two to three years.

The GFCI ranking is based on two main data sources. The first combines 147 quantitative indicators of competitiveness across five categories, namely business environment, human capital, infrastructure, financial sector development and reputation, drawing on data from institutions including the World Bank, the World Economic Forum, the United Nations and the Organisation for Economic Co-operation and Development.

The second source is a survey of 5,218 professionals in global financial markets, including asset managers, traders, banks and fintech firms.

Globally, New York retained the top spot, followed by London, Hong Kong, Singapore, San Francisco and Shanghai.

Walid Kéfi