Morocco is positioning itself as a major economic and financial player in Africa, attracting investments and developing strategic infrastructure to promote economic growth and sustainable development on the continent, according to a recent report from the Mo Ibrahim Foundation.
Indeed, Morocco, a key player in financial investments in Africa, holds a prominent position in various economic and financial fields on the continent. According to the latest report by the Mo Ibrahim Foundation, titled “Financing Africa: Where is the Money?”, the Kingdom stands out in the area of foreign direct investments in Africa despite an overall decline in flows to the continent.
Furthermore, Morocco ranks third among African nations receiving remittances from its diaspora. Financial data for the year 2022 indicates that the Kingdom received a substantial amount of $11.2 billion through these financial transfers. This figure places Morocco behind Egypt, which recorded remittances amounting to $28.3 billion, and Nigeria, receiving $20.1 billion. Collectively, these three states account for a significant portion of 61.1% of total remittances emanating from the diaspora on the African continent.
Among the top ten African countries that received remittances from their diaspora in 2022, we find Ghana, which received transfers totaling $4.6 billion, followed by Kenya, which received $4.1 billion. Zimbabwe also stands out, receiving $3.1 billion, while Senegal records transfers of around $3 billion. In the same vein, Tunisia received $2.8 billion from the diaspora. Somalia and Algeria received financial transfers equivalent to $1.7 billion each.
On the other hand, Morocco is considered a major player in the field of renewable energy in Africa, alongside countries such as South Africa, Egypt, and Kenya. Investments in renewable energy have accounted for a significant portion of foreign direct investment in this sector since 2010, exceeding $46 billion, according to the report.
Furthermore, on the financial level, Morocco is positioned among the five African countries generating more than half of the continent’s total income in 2024. Its tax-to-GDP ratio of over 20% makes it one of the six African countries with this characteristic, reflecting a robust tax base and effective economic policies.
Regarding pension funds in Africa, the Kingdom holds a significant position with the second-largest pension fund in value after South Africa. Although the assets of African pension funds remain below other regions, Morocco shows rapid growth in this area, demonstrating prudent management of financial resources and potential for future development.
In terms of sports, the Foundation notes that the influx of tourists and the global attention attracted by World Cup events stimulate the local economy, create jobs, and strengthen various economic sectors such as hospitality, transport, and retail. In this regard, both the 2026 Youth Olympic Games in Dakar and Morocco’s co-hosting of the 2023 FIFA World Cup provide enormous platforms for positive branding and showcasing Africa’s unlimited potential and resources.
Morocco’s Emerging Role as a Key Economic and Financial Powerhouse in Africa
Morocco is swiftly establishing itself as a central player in Africa’s economic and financial landscape. With a focus on attracting investments and developing strategic infrastructure, the nation is actively promoting economic growth and sustainable development across the continent, as evidenced by a recent report from the Mo Ibrahim Foundation.
Morocco as a Financial Hub: Investments and Remittances
Morocco occupies a prominent position in several key economic and financial domains within Africa. According to the Mo Ibrahim Foundation’s latest report, “Financing Africa: Where is the Money?”, the Kingdom stands out in foreign direct investment in Africa, despite an overall decline in flows to the continent.
Furthermore, Morocco ranks third among African nations in terms of remittances from its diaspora. Data from 2022 shows that the Kingdom received $11.2 billion in remittances. This places it behind Egypt ($28.3 billion) and Nigeria ($20.1 billion), collectively accounting for 61.1% of total diaspora remittances to Africa.
Top Remittance Recipients in Africa (2022)
| Rank | Country | Remittances (USD Billion) |
|---|---|---|
| 1 | Egypt | 28.3 |
| 2 | Nigeria | 20.1 |
| 3 | **Morocco** | 11.2 |
| 4 | Ghana | 4.6 |
| 5 | Kenya | 4.1 |
| 6 | Zimbabwe | 3.1 |
| 7 | Senegal | 3.0 |
| 8 | Tunisia | 2.8 |
| 9 | Somalia | 1.7 |
| 10 | Algeria | 1.7 |
Morocco’s Leadership in Renewable Energy
Morocco is a significant player in Africa’s renewable energy landscape, alongside countries like South Africa, Egypt, and Kenya. Investments in renewable energy have played a major role in attracting foreign direct investment since 2010, surpassing $46 billion.
Morocco: A Strong Financial Performer
On the financial front, Morocco is among the top five African countries generating over half of the continent’s total income in 2024. Its tax-to-GDP ratio exceeding 20% places it among the six African nations with this characteristic, highlighting a robust tax base and effective economic policies.
Morocco’s Pension Fund: A Leading Force
Morocco boasts the second-largest pension fund in Africa, after South Africa. While the overall assets of African pension funds remain below those of other regions, Morocco exhibits rapid growth in this area, showcasing prudent financial resource management and potential for future development.
Sporting Events: A Catalyst For Economic Growth
The Mo Ibrahim Foundation emphasizes the impact of sporting events on economic growth. Tourism influx and global attention generated by events like the World Cup stimulate the local economy, create jobs, and strengthen key sectors such as hospitality, transportation, and retail. The 2026 Youth Olympic Games in Dakar and Morocco’s co-hosting of the 2023 FIFA World Cup offer platforms for positive branding and showcasing Africa’s potential.
The Future of Morocco’s Economic and Financial Influence
Morocco’s commitment to strategic investments, infrastructure development, and fostering a favorable business environment positions the nation as a key driver of Africa’s economic growth and sustainable development. Its leadership in various sectors, from finance and energy to sports, underscores its multifaceted influence and growing role as a prominent economic and financial powerhouse within the continent.