NEWSLETTER
July 2020
Quote of the month
 
« Casablanca needs to offset its own transformation towards an open and multicultural city oriented towards financial services. Casablanca Finance City is today, while still growing, the continent’s leading financial center».
 
Mustapha Bakkoury, President of the Casablanca-Settat Region during the screening of the ‘Metropolitan Casablanca’ TV program
 
 
CFC Community 
Did you know?
Africa Insights
CFC's country factsheet: Burkina Faso
 
Burkina Faso’s economy is largely based on agriculture (almost 30% of GDP), and employs close to 80% of the working population, although gold exports have increased in recent years.
 
Burkina Faso encourages FDI and offers tax and legal incentives, such as the possibility for a foreign company to own 100% of shares in a local company.
 
Download the country factsheet
McKinsey: How African banks can manage the impact of COVID-19—and prepare for recovery.
 
A new analysis by McKinsey suggests that the COVID-19 crisis could result in African banking revenues falling by 23 to 33% between 2019 and 2021.
Over the same period, African banks’ return on equity (ROE) could fall by between 5 and 15%, driven by rising risk costs and reduced margins. 
 
Download the report
 
Share with us your latest reports by contacting us on africainsights@cfca.ma #CFCCommunity
 
Community News
Clifford Chance is named European & African legal adviser of the year by IJGlobal Awards
 
 CFC member since 2014
 
Learn more
Orange and NSIA, a leader of bancassurance, launch Orange Bank Africa
 
 CFC member since 2018
 
Learn more
SCR unveils its new logo and a new corporate identity
 
 CFC member since 2018
 
Learn more
CFC News
International financial centers come together to discuss how to restart economies post COVID-19
 
July 15, 2020, Z/Yen Group Limited held a private event to bring together representatives of international financial centers to discuss restarting economies, adjusting strategies, and renovating financial centers in the next decade.

Mrs. Manal Bernoussi, Director of Strategy, Partnerships & Communication, took part in the conversation to share insights, from a Moroccan and African perspective, on the measures put in place to manage the COVID crisis and the priorities for CFC looking forward.
 
Watch the video here
CFC took part in the Astana Finance Days 2020
 
July 1, 2020,  CFC took part in a panel entitled “International Financial Centres: sustaining SME growth in a post-COVID World,  run by our partners, Astana International Financial Center and the WAIFC. The discussion focused on how global financial centers are responding to the challenge of safeguarding SMEs during the pandemic.
 
CFC was represented by Mr. Mourad Fathallah, head of strategy and international partnerships at CFC.
 
Learn more
CFC participated in the WAIFC annual general meeting 2020
 
June 26, 2020, Mr. Said Ibrahimi, CEO of CFC and board member of the WAIFC has joined other board members from Toronto, Paris, Luxembourg, Frankfurt, London, Tokyo… for the annual WAIFC general meeting.

Discussions revolved around how financial centers can contribute to helping the economic recovery.
 
See the joint declaration
New e-services platform for the CFC community
 
CFC, in partnership with the city of Casablanca and the Ministry of Interior represented by DGCL and the borough of Hay Hassani, recently launched the new e-services platform.

The platform allows you to notarize and certify documents remotely and is currently available exclusively to the CFC community and their family members.

Find the step by step explanations in the video.
 
To register & create your account visit: wraqi/Home/CFC.
 
Click here for all inquiries
Join the CFC social media groups to stay in the loop on events, activities and more
 
CFC has created a closed LinkedIn group to bring together individuals of the CFC community around a common interest: networking. Its objective is to strengthen ties and facilitate exchanges within the CFC business community. You can join the group here.
 
Expats can join our closed Facebook group for expats and locals, who are part of CFC member companies, and would like to share relevant knowledge, stories & experiences, ask questions, seek advice, organize/find events, and get together!
Upcoming Events  
Africa 50 live webinar on 'Why investing in digital infrastructure post-COVID-19 is critical to Africa’s economic recovery’
 
Africa 50, CFC member since 2014, is organizing a webinar discussion on, "‘Why investing in digital infrastructure post-COVID-19 is critical to Africa’s economic recovery".
 
The live webinar will be held on Wednesday, July 29th, 2020 at 12 PM GMT, on Zoom and on CNBC Africa, DSTV Channel 410.
 
The panel discussion will be followed by the unveiling of the finalists of Africa50’s first Innovation Challenge which focused on sourcing solutions to help address rural internet connectivity in Africa.
 
Register here
Casablanca Lifestyle 
Casablanca drive-in festival 2020
 
We Casablanca and Concept Mena Group have come together to organize a drive-in cinema in the country. The event, which will run from 14-23 August 2020, will be located at ‘La Corniche’ and will offer movie tickets along with food and drink options.
 
Learn more
 
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