On June 23, 2023, a significant cooperation agreement was established between Casablanca Finance City (CFC) and the Istanbul Finance Center (İFM) in Istanbul, aimed at enhancing the financial landscapes of Morocco and Turkey while facilitating business and investment opportunities across Africa. The agreement was signed by Ahmet İhsan Erdem, General Manager of İFM, and Saïd Ibrahimi, General Manager of CFC, during a formal ceremony held at the Istanbul headquarters of the finance center.
Mr. Erdem views this collaboration as an opportunity to unlock new commercial avenues among financial sectors in Turkey, Morocco, and Africa, thereby expanding Istanbul's role in regional and global financial circuits. He describes CFC as one of the continent’s most robust financial hubs, with a vast operational reach across Africa. He believes that the ongoing growth of Turkish-African exchanges can create new opportunities for banks, investors, and enterprises.
Joint Ventures in Green Finance and Digital Services
The agreement outlines plans for joint initiatives in green finance and digital financial services, with both finance centers committed to enhancing reciprocal investment opportunities among financial institutions. Furthermore, there are intentions to establish academic programs focused on finance careers, regulatory frameworks, and technological transformations within the sector.
This initiative also includes collaborative efforts to present opportunities to financial institutions, regional headquarters of multinational corporations, holding companies, and specialized service providers. CFC and İFM aim to leverage this channel to intertwine their business networks, facilitate connections, and better guide companies toward the markets of Morocco, Turkey, and Africa.
Facilitating Capital Flow and Turkish Business Expansion in Africa
Saïd Ibrahimi links this agreement to the new heights achieved in economic relations between Rabat and Ankara. He emphasizes that the projected five billion dollars in trade by 2025 marks a historic threshold, opening a new chapter where trade should foster a denser cooperation focused on investment. Ibrahimi aspires to transform this progression into capital flows, joint projects, and sustainable establishments.
With its strategic position at the crossroads of African markets, CFC aims to serve as a reliable gateway for Turkish companies looking to expand their investments and institutional presence across the continent. Conversely, İFM seeks to provide Moroccan and African groups with more direct access to Turkish financial players, service firms, and established decision-making networks in Istanbul.
This partnership establishes a financial link between Casablanca and Istanbul, positioning Morocco as a gateway to African markets and Turkey as a conduit to its funds, banks, and enterprises. Both centers prioritize green finance, digital services, education, and investment flow in a collaborative program designed to translate bilateral trade into tangible financial outcomes.
As reported by barlamane.com.
