“Morocco is one of African countries paving the way in terms of capital market and financial sector promotion, enabling other countries of the continent to follow suit”, Pimenta told MAP on the sidelines of the Africa Financial Summit (AFIS 2024) held on December 09-10 in Casablanca.

“It is the reason behind our choice of partnering with "Jeune Afrique" Media Group to organize the AFIS in Casablanca,” he added.

“When you see the record number of participants, it proves we made the right choice: Casablanca is the place where African financial institutions come together to promote the sector across the continent”, Pimenta said.

He also recalled that IFC, to bolster the Moroccan financial sector in this momentum, is working with a number of Moroccan banks and financial institutions, insurance companies and others to help them get long-term financing needed for implementing this pan-African development strategy.

“We are also deploying technical assistance resources to banks to facilitate use of digital technology in support of businesses, especially SMEs”, the official stated.