The Global Financial Centers Index has ranked Rabat-Casablanca as Africa’s most important financial center.
Although Casablanca ranks 54th internationally, the report shows that the Moroccan city remains the top financial hub in Africa. The report was compiled by several market intelligence agencies, one of which was the Casablanca Financial City in Morocco.
The ranking is based on a variety of factors, including responses from financial industry experts polled online.
Sixty experts were polled, and all of them said they would set up shop in Casablanca if they were to ever move there.
While Casablanca is widely recognized as a “leading” financial hub on the African continent, the report shows that it ranks only #91 globally in terms of FinTech operations.
The Global Financial Centers Index confirms the high standing of Casablanca in other reports and indexes.
When it comes to attracting foreign direct investment in Africa, Casablanca ranked fourth in a report released in April of this year by business intelligence firm Statistica.
An identical ranking from a year ago placed the city at 53rd in the world, placing it ahead of such metropolises as Johannesburg, Doha, and Sao Paulo.
The report analyzes the potential for conducting business in two hundred locations worldwide.
Several aspects of the city’s economic infrastructure contribute to Casablanca’s business-friendly climate. There are more than 3.7 million people living in Casablanca, making it home to the largest stock exchange in the North African region.
There are also currently 33 companies headquartered in the city that are included in the S&P 500, an index of the 500 largest publicly traded companies in the world.
In addition to being a major financial center on the African continent, Casablanca also plays a significant role in Morocco’s manufacturing sector, contributing 44% of the country’s industrial input and producing 33% of Morocco’s industrial exports.