Morocco, both in terms of regulations and the quality of companies and their experience, has the capacity to be a leader in renewable energies (RE) in Africa, affirmed the regional vice president of IFC (International Finance Corporation) for Africa, Sérgio Pimenta.
“Morocco, which has developed a number of remarkable renewable energy projects, is at the forefront in several sectors, including hydropower, wind, and solar,” Mr. Pimenta said in an interview with MAP, on the sidelines of the Africa Financial Summit (AFIS-2024) taking place on December 9 and 10 in Casablanca.
He added: “We are very proud to have been able to support a number of companies in these projects.” Mr. Pimenta cited OCP as an example, particularly for fertilizer production and mineral extraction.
He also reiterated IFC’s commitment to supporting Moroccan companies venturing into RE, stating that these projects will be replicated in several countries across Africa and around the world.
Thus, Mr. Pimenta recalled that Morocco is an important country for IFC, with a strong acceleration of innovative operations over the past five years. “We have supported Moroccan banks and companies when they went to open operations in other countries in Africa, particularly in West Africa.”
According to him, IFC has supported the priorities of the Moroccan government, particularly regarding regionalization and the development of sustainable infrastructure.
“We have also diversified our portfolio in Morocco to be able to support the development of the Moroccan economy in a more comprehensive and broader way, with a real impact on job creation and new economic opportunities,” Mr. Pimenta continued.
On another note, he noted that Morocco is one of the most important financial centers in Africa.
“Casablanca is the place where African financial institutions come together to develop the sector across the continent,” he emphasized, referring to the choice of holding AFIS in Morocco.