"Africa is not the problem but the solution." The finding of Mohamed Benamour , President of the Council for Development and Solidarity (CDS), yesterday at the Forum in Rabat, crystallizes the orientation of the various stakeholders. This continent, in full development, is a reservoir of growth, unlike western economies into recession. The Morocco has to enjoy it as suggested Youssef Amrani, Minister for Foreign Affairs . The Moroccan diplomat stressed that "Africa's economy is a growth driver for Moroccan companies." The Morocco adopts an "active cooperation, pragmatic and bold with African states," he recalls. This partnership should be strengthened by free trade agreements. This is the case of one who should be signed with the Economic and Monetary Union of West Africa (UEMOA), in a first step, before turning to other regional areas. The Ministry of Foreign Affairs is in the process of "tracing the outline of a true economic diplomacy," said Amrani. This is to seize the opportunities of Africa. But this "proactive approach remains dependent on economic operators should be part of a long-term logic," he adds. Moroccan companies, but also African, can seize these opportunities in "boosting trade between the countries of the continent in a sense complementary," said Benamour . Examples of Moroccan companies that have managed to take advantage of development potential in Africa abound. Abdeslam Ahizoun, CEO of Morocco Telecom, one of the successful businesses to expand in Africa, highlighted the conditions necessary to optimize investment in the African paradise. "The investment approach is to be marked rigor and professionalism," he insists. Clearly, we must measure the confidence to invest in institutions and the regulatory framework of the host country. Ahizoun also raised the importance of political support for successful partnerships in Africa. It's a win-win relationship which "allows African companies to have visibility at the international level, thanks to consolidation," as pointed out by Moulay Hafid Elalamy, chairman of Saham. The former boss of bosses believes that African companies "would benefit from investing in African countries because their markets are not yet saturated" as is the case in Europe or the United States. Especially that "entrepreneurial integration precedes and prepares the reconciliation policy," suggests Brahim Benjelloun Touimi, DG BMCE. The Morocco can play a leading role in this new dynamic development in Africa, by positioning itself as a "regional hub", in the opinion of Sijilmassi Fathallah, DG AMDI. The Kingdom has the means to accomplish this mission, including through the "introduction of elements of competition in infrastructure, but also through its partnerships at international level". The Morocco "summoned to the door be suitable for Africa through its free trade agreements," according Touimi Benjelloun. The Moroccan market is small in size for certain investments international, regional integration will implement joint projects between different countries. This integration, which "is a priority in Africa for several years, could not give concrete results," said Philippe Hugont, research director at IRIS. The current geopolitical changes have "an opportunity for African states to take advantage of shifting the center of gravity of growth," suggests he. When the growth weaken in the world, Africa should achieve a rate of 6% in 2012, according to World Bank . A virtuous circle for a continent still under construction. But it will remain vigilant and avoid certain pitfalls. One of the main obstacles to be overcome is the lack of harmonization of business regulations in different countries, and corruption problems. It is also not to "overestimate the complementarity between African countries that may be emerging as competitors in some markets," warns Nezha Lahrichi, CEO of Smaex. African states should, she says, "present a united front to define common projects, and establish a partnership involving all actors of society." They could benefit from financial support from organizations like the ADB, whose capital is 100 billion. The Bank African Development has set up "documents of regional integration strategy", as noted by his vice-president Mohamed H'Midouche. He said that "lines of long-term credit has been established to finance projects in Africa." The idea is to launch projects involving several countries in the region. To develop this approach, a major problem must still be resolved. The regional integration organizations are often plagued by conflicts between member states as is the case for the UMA and other groups in Africa.
Related posts
- The CIH sanitizes its banks accounts
- Casablanca investors attracted by the city
- Beware of ephemeral signatures? The mystery of magic pen that worries bankers
- Moroccans have dh 197.8 billion in their banks
- Constitutional referendum: the bankers call to vote "yes"
- The credit comes from Morocco to obtain approval for CDVM increase its capital by conversion of optional dividend for fiscal 2010. The DH 233 million, transaction amount, will therefore strengthen the capital of the Moroccan subsidiary of Credit Agricole (France). The bank also seeks to increase its distribution capacity credits while meeting the capital adequacy ratio as defined by the Basel II guidelines. The issue of new shares, the number 288,427 at a price of 810 DH unit is open only to current shareholders of the bank. Therefore, after the operation, the capital structure will remain the same (77% in the hands of Credit Agricole, 10% for Wafa Assurance and 13.17% for other shareholders). The issue price of shares allotted in payment of dividend for the year 2010, DH 810 unit, was calculated on the basis of the average price during the 20 trading days preceding the day of the meeting of the Executive of 14 February 2011, less a discount of 10% and rounded to the nearest 27. The exercise period of the conversion option of dividends into new shares will be open, with Credit Morocco, clearinghouse, from July 25 to August 19, 2011. At the end of that period, and in the absence of the exercise of the option, the dividend will be paid in cash. Following the capital increase, capital is expected to reach 3.82 billion dirhams. As a reminder, four months ago, the credit of Morocco had already proceeded with the issuance of subordinated bonds for a total ceiling of 500 million DH. The issue was oversubscribed more than 7.5 times and the satisfaction rate was 13.3%. In an economic environment not conducive, the credit of Morocco had ended the year 2010 on a positive note, thanks to its trade policy targeted. In consolidation, its Net banking income (GNP) grew by 11.2% to $ 2 billion dirhams. As a result of increased cost of risk (100%) to 481 million dirhams, net profit after minority interests was a decline of 14% to 363 million dirhams. Over the period 2011-2013, the bank, headed by Pierre-Louis Boissiere, promises to maintain the pace of creation of new agencies for 30 openings each year for a budget amounting to 420 million dirhams. The credit of Morocco has also amplify the effort of opening accounts with individuals and businesses. Forecasts are based on a deposit growth of about 11.8% by 2011. For their part, the credits should see an increase of 12.8% over the same period. The average annual growth of GDP would be 11.2% over the next three years. The further optimization of operating costs should improve the EBITDA whose average annual growth rate over the projection period is 8.71%. The cost of risk has an average increase of 1.9% related to the increase in receivables clientele. Finally, the net result of the credit of Morocco should grow an average of 19.6% by 2013. The CDM group improves its solvency At the end of 2010, the solvency ratio of the CDM group marks an increase of 5 percentage points to 11.57%. This increase is due to the increase recorded in the consolidated equity of 8.8% for a balance of 3980 MDH due to the operation of a capital increase by optional conversion of the 2009 dividend in new shares of Credit of Morocco . Risk-weighted apparent slight growth of 3.74% compared to 2009 reflecting the respective trends on real estate loans and consumer and tighter lending standards for equipment and spot loans.
- Competition Council: How Benamour account punish fraudsters
- Pharmaceutical industry laboratories refute the results of the survey Benamour
- Abdelali Benamour: "Even the government monitored in case of anticompetitive practices"
- The Morocco recorded a drop in FDI up to 13%
