African Business 2020 edition
A unique guide to business and investment in Africa. Global Africa Network is proud to launch this inaugural edition of African Business 2020 at a time of energetic planning for a prosperous future for the continent. The African Union’s Agenda 2063 is much more than a document about a hoped-for future, it contains concrete goals and deliverables. The Programme for Infrastructure Development in Africa (PIDA) and the development finance institution, the African Development Bank (AfDB) are already rolling out valuable projects that are changing the reality on the ground in vital areas of the African economy. Perhaps the most significant event of recent times is the signing by African leaders of the African Continental Free Trade Area agreement (AfCFTA) which will bring together all 55 member states of the African Union and cover a market of more than 1.2-billion people. African Business 2020 has articles on all of these recent trends, plus overviews of the key economic sectors and regional and country profiles. In 2019 Ethiopian Prime Minister Abiy Ahmed received the Nobel Peace Prize for peace-making efforts in his region. The economic dividends of peace are beginning to be felt. In 2020 South African President Cyril Ramaphosa assumed the mantle of AU Chairperson. He brings to the role considerable experience in conflict management, constitution-writing and seeking consensus. Global Africa Network is a proudly African company which has been producing region-specific business and investment guides since 2004, including South African Business and Nigerian Business, in addition to its online investment promotion platform www.globalafricanetwork.com
A unique guide to business and investment in Africa.
Global Africa Network is proud to launch this inaugural edition of African Business 2020 at a time of energetic planning for a prosperous future for the continent.
The African Union’s Agenda 2063 is much more than a document about a hoped-for future, it contains concrete goals and deliverables. The Programme for Infrastructure Development in Africa (PIDA) and the development finance institution, the African Development Bank (AfDB) are already rolling out valuable projects that are changing the reality on the ground in vital areas of the African economy.
Perhaps the most significant event of recent times is the signing by African leaders of the African Continental Free Trade Area agreement (AfCFTA) which will bring together all 55 member states of the African Union and cover a market of more than 1.2-billion people. African Business 2020 has articles on all of these recent trends, plus overviews of the key economic sectors and regional and country profiles. In 2019 Ethiopian Prime Minister Abiy Ahmed received the Nobel Peace Prize for peace-making efforts in his region. The economic dividends of peace are beginning to be felt. In 2020 South African President Cyril Ramaphosa assumed the mantle of AU Chairperson. He brings to the role considerable experience in conflict management, constitution-writing and seeking consensus.
Global Africa Network is a proudly African company which has been producing region-specific business and investment guides since 2004, including South African Business and Nigerian Business, in addition to its online investment promotion platform www.globalafricanetwork.com
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PROFILE<br />
Morocco<br />
The Green Morocco Plan is boosting the agricultural sector.<br />
Capital: Rabat<br />
Other towns/cities: Casablanca, Fez,<br />
Tangiers, Marrakesh<br />
Population: 34.3-million (2018)<br />
GDP: $117.9-billion (2018)<br />
GDP per capita (PPP): $8 586 (2018)<br />
Currency: Dirham<br />
Regional Economic Community:<br />
Community of Sahel-Saharan States<br />
(CEN-SAD)<br />
Landmass: 446 300km²<br />
Coastline: 1 835km<br />
Resources: Fish, salt, phosphates, iron ore,<br />
manganese, lead, zinc.<br />
Main economic sectors: Fishing,<br />
phosphate mining, automotive, tourism.<br />
Other sectors: Textiles, chemicals, clothing,<br />
agriculture.<br />
New sectors for investment: Transport<br />
and logistics, renewable energy (target of<br />
50% of installed capacity from RE by 2030),<br />
food processing, construction, leather.<br />
Key projects: Industrial Acceleration<br />
Plan stresses diversification (automotive,<br />
aeronautics and electronics). Investment<br />
into Peugot plant will double capacity.<br />
Reform of tax system. Combating poverty<br />
measures through job creation and social programmes.<br />
Green Morocco Plan.<br />
Chief exports: Citrus fruits and market vegetables, semiprocessed<br />
and consumer goods (textiles), phosphates.<br />
Top export destinations: Spain, France, Italy, US.<br />
Top import sources: Spain, France, China, US, Germany,<br />
Italy, Turkey.<br />
Main imports: Crude petroleum, textile fabric,<br />
telecommunications equipment, wheat, gas and<br />
electricity, transistors, plastic.<br />
Infrastructure: Free trade zone at Tangiers; Tangier-Med<br />
(largest port in Africa and Mediterranean); LNG terminal<br />
at Jorf Lasfar; high-speed rail link between Tangiers and<br />
Casablanca; 944km gas pipeline; 57 300km of highway;<br />
oldest library in world, University of al-Quarawiyyin Library<br />
in Fez; 31 paved airports.<br />
ICT: 58% Internet users. ICT Development Index 2017<br />
(ITU) ranking: 100.<br />
Climate: Northern part of country is Mediterranean, with<br />
wet winters and dry summers. Further south is semi-arid<br />
which becomes desert and the Atlas Mountains form a<br />
rain shadow for the interior.<br />
Religion: Predominately Muslim.<br />
Modern history: Situated between Europe and Africa<br />
and with coastal and desert regions, Morocco has<br />
experienced a wide variety of influences including a<br />
period under French rule from 1912 to 1956. Cultural<br />
influences come from <strong>African</strong>, Arabic, Berber and<br />
European sources.<br />
Morocco joined the <strong>African</strong> Union (AU) in 2017,<br />
having left the AU’s predecessor over that body’s<br />
recognition of the independence of Western Sahara.<br />
Morocco believes the region is part of its territory and the<br />
dispute is unresolved. Morocco also disputes Spain’s right<br />
to several coastal enclaves.<br />
Morocco is a kingdom and has been ruled by<br />
Mohammed VI since 1999. A new constitution was<br />
introduced after the “Arab Spring” of 2010, giving more<br />
powers to the prime minister and parliament. Huge<br />
investments into infrastructure are paying off. The country<br />
achieved an average capital investment rate of 34%<br />
between 2008 and 2018 (<strong>African</strong> Development Bank).<br />
71 AFRICAN BUSINESS <strong>2020</strong>
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