Home » Casablanca Finance City Maintains Its Position Among Africa’s Top Financial Centers
Africa Economy News North Africa

Casablanca Finance City Maintains Its Position Among Africa’s Top Financial Centers

Casablanca Finance City (CFC) has maintained its position as the leading African financial center in the half-yearly rankings of the 34th edition of the Global Financial Centers Index (GFCI) that has also included Mauritius, Kigali, Johannesburg, Nairobi, Cape Town, and Lagos on the list.

Within the North Africa and Middle East region, the leading Moroccan pan-African financial center has improved its standing and was ranked third among all regional centers, consolidating its prominence and further bolstering its reputation in the fast-growing African markets. Within Africa, Morocco secured the 54th spot in the global ranking, followed by Mauritius 68th position, Kigali 81st place, Johannesburg 83rd place, Nairobi 90th place, and then Lagos 103rd place. Since its inception in 2010, CFC has been recognized as a strategic hub for international business focused on the African continent, offering its 200+ members an attractive value proposition including the premium “Doing Business” that fosters the deployment of their activities in Africa.

According to the GFCI index, with a young and growing population, a rich endowment of natural resources, and a commitment to economic reform, many African countries are poised for rapid growth in the coming years. On a global level, the latest index showcased that New York continues to hold the top position worldwide, securing the first spot ranking since the 24th edition in 2018, with London remaining second in the rankings, followed by Singapore in third place, and Hong Kong comes in the fourth position. “Confidence in international financial centers remains strong. Virtually all the centers we track improved their rating in GFCI 34. Skills and talent development are vital for financial centers, increasingly so with new skills required in areas such as AI and ethics,” commented Chairman of Z/Yen, Professor Michael Mainelli, on these figures.

Source: North Africa Post