Trade volume between Morocco and the rest of Africa increased by 11% average per annum between 2005 and 2015. This was revealed in the financial and economic report joined to the 2017 draft budget submitted by Morocco’s government. In 2015, it stood at 40 billion dirham ($4.08 billion) and represented 7% of Morocco’s external trade, against 5% in 2005.

Sub-Saharan Africa positioned itself as Morocco’s leading economic partner in the region. In 2015, the sub-region grabbed 51% of the Morocco-Africa total trade, soaring from 42% in 2014. Morocco’s FDI represent about 87% of the country’s trade with its sub-Saharan partners. The report lists three types of partners.

Senegal, Cote d’Ivoire and Gabon receive both Moroccan investments and its products.

Mali and Burkina Faso grab a significant part of Morocco’s FDI in the sub-region.

Nigeira, Ghana and Guinea though they receive little or none of Morocco’s investments, they hold strong commercial ties with the Cherifian kingdom.

Many companies listed on the Casablanca stock exchange are behind the country’s expansion across the continent. Leading them is Attijariwafa Bank which bought Barclays Egypt and Cogebanque in Rwanda. Other Moroccan banks contributing to this expansion include the Banque Centrale Populaire, reference shareholder of Atlantic Banque, and BMCE which controls Bank of Africa.

Morocco is also much present in the continent’s telecom sector (Maroc Telecom), insurances (Saham and Atlanta), real estate (Adohha and Alliances) and industry (LafargeHolcim Maroc), not forgetting air transport. Boosting its trade relations with the rest of Africa is now part of Morocco’s macroeconomic strategy. The kingdom has in fact succeeded in becoming second largest investor in the region, behind South Africa.

Idriss Linge