While developed countries are witnessing an economic slowdown, the African continent continues to stand out as a major source of global growth. Casablanca Finance City (CFC,) which is fully aware of the continent’s huge assets, undertakes to support and sustain Africa’s development and growth through draining foreign investment to the continent.
Casablanca Finance City, nurtured by a national ambition to position the Moroccan finance at the fore regional and international levels, is intended to be a financial center that furthers the development of Africa, and specifically the development of the countries of North, West and Central Africa.
In this perspective, Casablanca Finance City means to be an economic and financial hub and a bridging platform between the north and the south. It seeks to attract and encourage international institutions and investors to invest and operate in North, West and Central Africa and to choose Casablanca as a gateway to access this region.
CFC intends to build an all-encompassing ecosystem evolving around three business categories: financial companies, professional services providers and regional or international headquarters of multinationals.
Institutional Framework
Casablanca Finance City is created under law No. 44-10 enacted in December 2010, as amended and completed by law 68-12 enacted in june 2014. The law 44-10 creates the « CFC Status” and also entrusts Casablanca Finance City Authority with the overall management and institutional promotion of CFC. The enforcement decree of Law 44-10, passed in September 2011, enacts the creation of the «CFC Commission », the body responsible for the granting of the “CFC status” to eligible companies.
The CFC status is a label that gives access to an attractive package of advantages. These advantages include tax incentives, exchange control facilitation measures as well as other benefits for doing business. These advantages are detailed in the following section.