Latest news with #AttijariwafaBank
Zawya
15-05-2025
- Business
- Zawya
GAFI's CEO outlines Egypt's strategies to boost trade across Africa
Arab Finance: The Egyptian government is adopting sustainable strategies to facilitate investment flows and trade across Africa, Hossam Heiba, the CEO of the General Authority for Investment and Free Zones (GAFI), stated. During his participation in the Connecting Markets for the Future conference, Heiba noted that Egypt is working to establish integrated partnerships with key African stakeholders, including Morocco, to strengthen intra-African investment and trade. He also outlined the government's efforts to enhance the investment climate, including the imminent launch of the first version of the Unified Electronic Licensing platform, which will connect all licensing authorities. Serving as a single point of contact for investors seeking permits, the platform will streamline approval processes and accelerate the licensing process. Organized by Attijariwafa Bank, the conference aims to establish strategies for investment and trade integration across African countries. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
15-05-2025
- Business
- Daily News Egypt
Egypt developing sustainable strategies for African investment, trade integration: GAFI Head
Egypt's government is currently developing sustainable strategies to facilitate investment flows and trade among African nations, aiming to create integrated partnerships with key players on the continent, including Morocco, to boost intra-African investment and trade, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). Heiba made these remarks during his participation in the 'Connecting Markets to Build the Future' conference, organised by Attijariwafa Bank to strategise on investment and trade integration among African countries. He outlined the Egyptian government's plan to continue improving the investment environment. Key to this is the anticipated launch of the first version of a unified electronic licensing platform within days. This platform will connect entities responsible for issuing necessary approvals for investor license applications, consolidating the point of contact for investors and simplifying licensing procedures. The conference was attended by Hala El-Said, Advisor to the President for Economic Development; Mouawia Essekelli, Managing Director of Attijariwafa Bank Egypt; Ismail Douiri, Co-CEO of Attijariwafa Bank Group; Hazem Enan, Vice Chairman of the Industrial Development Authority; Hani Berzi, Chairperson of Edita Food Industries; Moustapha Cissé, Deputy CEO of Senegal's Investment Promotion Agency (APIX-S.A.); and Amedeo Abunaw, Deputy General Manager of Cameroon's Investment Promotion Agency. Abunaw highlighted Cameroon's investment advantages, noting its membership in several economic blocs that facilitate trade and investment with neighbouring countries, such as the Economic Community of West African States (ECOWAS) and the African Continental Free Trade Area (AfCFTA). He also pointed out Cameroon's role as a major trade hub in West Africa due to its shared borders with landlocked countries like Chad and the Central African Republic. Abunaw praised Attijariwafa Bank's initiative to establish the 'Africa Development Club' in Egypt, Cameroon, and other African nations, stating such initiatives provide a conducive environment for exchanging views, experiences, investment opportunities, and developments, thereby facilitating investment and trade flows across the continent. Cissé invited the Egyptian business community to explore investment opportunities in Senegal, particularly in food processing and preservation, natural gas production and distribution, digital transformation, tourism, and pharmaceuticals. He noted these sectors require significant investment in Senegal, and Egypt possesses considerable expertise in managing them. Mr Cissé affirmed Senegal's political leadership's desire to attract Egyptian investments and exports, acknowledging Egypt as the first country to recognise Senegal's independence. Consequently, APIX-S.A. plans to hold a Senegalese-Egyptian investment forum in Dakar as soon as possible, in coordination with GAFI, to agree on targeted sectors for investment partnerships. Berzi, Chairperson of Edita Food Industries, commended the role of export councils and foreign trade exhibitions affiliated with the Ministry of Investment and Foreign Trade in supporting Egyptian businesses looking to export to African countries. He stated that African countries currently account for 15% of Egyptian exports, a figure that can be increased through better studies of consumer preferences in each country, intensified presence of financial institutions guaranteeing exports and investments in Africa, improved infrastructure and logistics connecting the continent's nations, and forming bilateral and multilateral partnerships with local partners in targeted countries to overcome bureaucratic hurdles, government regulations, or challenges related to distribution network efficiency.
Zawya
15-05-2025
- Business
- Zawya
Egypt developing sustainable strategies for African investment, trade integration: GAFI Head
Egypt's government is currently developing sustainable strategies to facilitate investment flows and trade among African nations, aiming to create integrated partnerships with key players on the continent, including Morocco, to boost intra-African investment and trade, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). Heiba made these remarks during his participation in the 'Connecting Markets to Build the Future' conference, organised by Attijariwafa Bank to strategise on investment and trade integration among African countries. He outlined the Egyptian government's plan to continue improving the investment environment. Key to this is the anticipated launch of the first version of a unified electronic licensing platform within days. This platform will connect entities responsible for issuing necessary approvals for investor license applications, consolidating the point of contact for investors and simplifying licensing procedures. The conference was attended by Hala El-Said, Advisor to the President for Economic Development; Mouawia Essekelli, Managing Director of Attijariwafa Bank Egypt; Ismail Douiri, Co-CEO of Attijariwafa Bank Group; Hazem Enan, Vice Chairman of the Industrial Development Authority; Hani Berzi, Chairperson of Edita Food Industries; Moustapha Cissé, Deputy CEO of Senegal's Investment Promotion Agency (APIX-S.A.); and Amedeo Abunaw, Deputy General Manager of Cameroon's Investment Promotion Agency. Abunaw highlighted Cameroon's investment advantages, noting its membership in several economic blocs that facilitate trade and investment with neighbouring countries, such as the Economic Community of West African States (ECOWAS) and the African Continental Free Trade Area (AfCFTA). He also pointed out Cameroon's role as a major trade hub in West Africa due to its shared borders with landlocked countries like Chad and the Central African Republic. Abunaw praised Attijariwafa Bank's initiative to establish the 'Africa Development Club' in Egypt, Cameroon, and other African nations, stating such initiatives provide a conducive environment for exchanging views, experiences, investment opportunities, and developments, thereby facilitating investment and trade flows across the continent. Cissé invited the Egyptian business community to explore investment opportunities in Senegal, particularly in food processing and preservation, natural gas production and distribution, digital transformation, tourism, and pharmaceuticals. He noted these sectors require significant investment in Senegal, and Egypt possesses considerable expertise in managing them. Mr Cissé affirmed Senegal's political leadership's desire to attract Egyptian investments and exports, acknowledging Egypt as the first country to recognise Senegal's independence. Consequently, APIX-S.A. plans to hold a Senegalese-Egyptian investment forum in Dakar as soon as possible, in coordination with GAFI, to agree on targeted sectors for investment partnerships. Berzi, Chairperson of Edita Food Industries, commended the role of export councils and foreign trade exhibitions affiliated with the Ministry of Investment and Foreign Trade in supporting Egyptian businesses looking to export to African countries. He stated that African countries currently account for 15% of Egyptian exports, a div that can be increased through better studies of consumer preferences in each country, intensified presence of financial institutions guaranteeing exports and investments in Africa, improved infrastructure and logistics connecting the continent's nations, and forming bilateral and multilateral partnerships with local partners in targeted countries to overcome bureaucratic hurdles, government regulations, or challenges related to distribution network efficiency.
Morocco World
12-05-2025
- Business
- Morocco World
Morocco's Corporate Dominance: 14 Firms Rule North Africa's Top 20
Doha – Morocco's corporate sector is tightening its grip on North Africa's business landscape, dominating the region's top rankings. According to the latest African Business 'Top Companies 2025' report, Moroccan firms occupy all six of the top spots and 14 of the top 20 positions among North Africa's biggest listed companies. In contrast, only two Egyptian firms made it into the region's top 13, with Egypt holding just six places overall in the top 20. This growing Moroccan corporate strength comes as Egypt struggles to fulfill long-promised economic reforms. Attijariwafa Bank leads the pack as North Africa's largest listed company, ranking 7th continent-wide. Its market value jumped significantly from $10.8 billion last year to $15.6 billion in the 2025 table. Maroc Telecom follows in second place regionally and 10th in Africa, with its value increasing from $8.7 billion to $11.1 billion. Mining firm Managem secured the third position in North Africa and 21st in Africa, followed by Banque Centrale Populaire (4th regionally, 22nd in Africa), transport operator Marsa Maroc (5th regionally, 24th in Africa), and power company TAQA Morocco (6th regionally, 26th in Africa). 'Morocco's lead over Egypt seems to grow stronger every year,' notes the report. 'The six biggest listed companies in North Africa are all Moroccan and there are only two Egyptian companies among the top 13.' While Egypt has promised to privatize state-owned companies and reduce military influence over the economy, progress has been limited. Meanwhile, 'Moroccan companies go from strength to strength,' according to African Business. Commercial International Bank (CIB) remains Egypt's biggest company, ranking 7th regionally and 30th in Africa. However, it continues sliding down the rankings as Moroccan firms expand. The remaining Moroccan companies in the top 20 include LafargeHolcim Maroc (8th regionally, 33rd in Africa), Bank of Africa (9th regionally, 35th in Africa), Ciments du Maroc (11th regionally, 47th in Africa), and Travaux Generaux de Construction de Casablanca (12th regionally, 59th in Africa). Other notable Moroccan entries include COSUMAR (13th regionally, 61st in Africa), Douja Promotion Groupe Addoha (16th regionally, 65th in Africa), Akdital (17th regionally, 66th in Africa), Wafa Assurance (18th regionally, 68th in Africa), and TotalEnergies Marketing Maroc (19th regionally, 74th in Africa). Egypt holds the remaining positions with El Sewedy Electric Company (10th regionally, 42nd in Africa), Talaat Moustafa Group Holding (14th regionally, 62nd in Africa), Eastern Company (15th regionally, 63rd in Africa), and Misr Fertilizers Production Company (20th regionally, 75th in Africa). A mining success story Managem stands out as one of the region's biggest corporate success stories. The Moroccan mining company jumped from 57th place last year to 21st in the 2025 Africa-wide rankings. Its market capitalization tripled from $2 billion to $6.1 billion. The company operates in eight African countries, mining and processing various commodities including cobalt, copper, gold, silver and zinc. Rising prices for critical minerals have boosted Managem's performance. These minerals, particularly copper and cobalt, are in high demand for the energy transition. Gold prices have also spiked as investors seek protection against market volatility. The company is expanding its operations. Managem is investing in the Tizert copper mine in Morocco's Taroudant province and the Boto gold project in eastern Senegal. In October 2024, it acquired the Karita gold project in Guinea from Canadian company IAMGOLD. At the same time, Managem sold its Oumejrane copper mine in Morocco to UAE's Purple Hedge DWC for $30 million earlier this year. Regional corporate landscape The absence of Algerian companies in the rankings highlights limitations in that country's economic strategy. Despite having Africa's fourth-largest economy behind South Africa, Nigeria and Egypt, Algeria has no companies in either the North African Top 20 or the wider African Top 250. Its government has discussed diversifying away from oil and gas for 20 years with limited progress, and private sector participation in key parts of the economy remains restricted. Tunisia shows more economic openness with seven companies in Africa's Top 250, including three banks. The country has leveraged its proximity to European markets by developing export-oriented sectors tied to global supply chains. However, its smaller population means Tunisian companies cannot match the scale of those in Morocco or Egypt. On the continental level, African companies have seen a partial recovery in value. The combined market capitalization of Africa's 250 biggest companies reached $564 billion by March 2025, up from $503 billion last year. However, this remains well below the peak of $948 billion achieved in 2015. South African companies continue to dominate the continent's rankings, accounting for 60% of the total market capitalization of Africa's Top 250 firms. Morocco ranks second nationally with 15%, followed by Nigeria with 7% and Egypt with 6%. The African Business survey methodology focuses on listed companies, with rankings determined by market capitalization as of March 31, 2025. State-owned enterprises and companies earning less than 50% of their revenues in Africa are excluded. The rankings also omit companies not listed on African stock exchanges, regardless of their operational presence on the continent. Read also: Benjelloun, Sefrioui, Akhannouch Among 2025 Forbes World's Billionaires
Morocco World
01-05-2025
- Business
- Morocco World
Huawei Reinforces Strategic Commitment to Africa's Digital Future
Rabat — Huawei hosted its Intelligent Africa Summit 2025 alongside GITEX Africa in Marrakech, on April 15. The summit brought together key partners to discuss how artificial intelligence (AI) can drive inclusive development across the continent. Under the theme 'Amplifying Intelligence for a New Africa,' the summit addressed how AI and digital innovation can shape Africa's future amid the continent's technological transformation. Inaugurating the summit, the President of Huawei Northern Africa Shen Li stressed the need for collaboration in Africa's transformation journey. Shen Li said that the tech-giant 'will continue [its] partnership with all stakeholders around the fundamental pillars of AI development — public policies, technology, ecosystem, and talent — to accelerate intelligence and build a new Africa together.' For his part, Smart Africa Director General and CEO Lacina Koné echoed this sentiment while speaking of the importance of developing digital transformation strategies rooted in Africa's unique characteristics. He urged the need to 'anchor ourselves more deeply — in policies, people, partnerships — so that Africa rises strongly against the winds of change that artificial intelligence is blowing.' Koné also spoke of Africa's assets with a particular focus on the continent's demographic advantage, noting that over 70% of the population is under 30. This provides a reservoir of creativity, agility, and resilience, driving the technological revolution, he argued. Read also: Morocco, Huawei Sign New Agreement to Boost Digital Skills, Innovation Meanwhile, the Vice President of Huawei Northern Africa Mounir Soussi focused on customer-centered opportunities in the rapidly evolving digital landscape. 'This era of transformation, inclusive AI opens new horizons for Africa,' he said. Soussi recalled Huawei's commitment to placing its customers at the heart of their technology development, saying it will 'continue to put customers at the center of its approach and promote intelligence across the continent.' The summit also provided an opportunity to feature the essential role of New Infrastructure in advancing AI throughout Africa. Ahmed Talaat, CTO of Huawei Cloud Northern Africa, explained : 'In Africa, Huawei Cloud is committed to building intelligent cloud infrastructure for the telecommunications sector, while accelerating intelligence in other sectors through systemic innovation combining AI for cloud and cloud for AI.' Marouane Akrab, Digital Center Manager at Attijariwafa Bank, shared practical insights on creating value through AI implementation. 'After establishing effective governance and centralizing data, Attijariwafa Bank has triggered a new strategic phase: making data a true performance lever. This second step involved strengthening analytical tools, more refined data use, and gradually acculturating teams to Data and AI usage,' he explained. Also, a high-level panel explored the New Ecosystem concept. High-caliber panelists focused on the vital importance of close collaboration in the AI era, while discussing the urgency of designing inclusive, agile, and resilient frameworks to support sustainable digital transformation. Through its combination of strategic visions, inspiring case studies, and operational recommendations, the Huawei Intelligent Africa Summit 2025 laid the groundwork for an ambitious agenda for Africa's digital future. The event reinforced Huawei's commitment to working alongside African stakeholders to build a more intelligent, interconnected future where innovation drives inclusive progress.
