Morocco commits to expanding investments in Rwanda, creating sustainable jobs

Morocco’s Minister of Trade and Industry Ryad Mezzour on May 17 reiterated his country’s commitment to furthering its investments in Rwanda, with a focus on creating sustainable jobs and driving economic growth. He noted this during a Morocco-Rwanda business breakfast meeting in Kigali between Moroccan investors and Private Sector Federation (PSF) members which, as noted, marked a significant step in the ongoing collaboration between the two nations in trade and investment. ALSO READ: Over 80 Moroccan firms express interest to invest in Rwanda Mezzour expressed admiration for Rwanda's business environment and highlighted the significant investments already made by Moroccan companies in various sectors of Rwanda. He reiterated Morocco's commitment to furthering its involvement in Rwanda, with a focus on creating sustainable jobs and driving economic growth. We are incredibly impressed by the image that we share with Rwanda in terms of business, investment and political ties, and there's no doubt that Rwanda still offers abundant opportunities for Moroccan investors,” he said. ALSO READ: Africa does not have to ask for a seat at the table, Kagame tells business leaders “With remarkable representations and substantial investments in key sectors such as energy, transport, and logistics, Rwanda's potential is truly impressive. While there is still much work ahead, we are confident in the potential for fruitful collaboration and growth between our nations. Mezzour said that the investors who came to Rwanda “aren't simply here as friends; they're here because they recognize Rwanda as an opportunity” and their aim is to enhance the engagement and investment to create sustainable jobs for both countries. “The framework established in 2016 during the Moroccan King's visit is being actively implemented; we've already witnessed some investments in agriculture and logistics. Now, with this visit, we have numerous Moroccan investors exploring opportunities in Rwanda, ranging from the CEO of Morocco Airline to leaders in industrial zones, cement, steel, and logistics. We're also eager to welcome Rwandan investors to Morocco, and we anticipate reciprocal visits in the near future. ALSO READ: Africa’s prosperity lies in enterprise, not aid Chakib Ali, the President of the Confederation Generale des Entreprises du Maroc (CGEM), the official representative of the private sector to public authorities in Morocco, underlined the potential for business growth through collaboration. With 50 Moroccan business people exploring opportunities in Rwanda, Ali emphasized the importance of working together to bridge gaps and foster economic prosperity. He said: Businesses thrive when collaboration is at the forefront. As we strive to bridge the gap between Morocco and Rwanda, we're eager to join hands and cultivate opportunities together. With our colleague's successful investment in the pharmacy sector, we're keen to attract additional investors, both Moroccan and Rwandan,” “Our aim is to deepen our investment in Rwanda while also welcoming Rwandan investors to explore opportunities in Morocco. We firmly believe that the future of business lies within African countries. Jeanne Francoise Mubiligi, the acting Chairperson of the Private Sector Federation, underlined the importance of private sector collaboration and emphasized the need to leverage this partnership for mutual benefit, particularly in sectors such as pharmaceuticals where Moroccan investors are already active. She said: Excitement abounds as Rwanda and Morocco anticipate the promising trade and investment prospects ahead and as the Private Sector Federation is leading the charge, dedicated to advancing the interests of businesses. The stage is set for fruitful collaboration, and we are already witnessing Moroccan investments in Rwandan pharmacies. Rwanda's commitment to nurturing an inviting investment landscape underscores its position as a hub of innovation,” “Representatives from both nations recognize the vast potential for collaboration, emphasizing the need to capitalize on this opportunity. Together, they aim to explore avenues for increased investment, expand export markets, and foster a culture of shared knowledge. In this partnership, we envision a future where mutual prosperity and growth flourish. The visit, framed within the bilateral agreements established in 2016, showcased Rwanda as an attractive investment destination and underscored the potential for increased collaboration between the two countries. In 2022, a Moroccan firm donated 15,000 tonnes of fertilisers to support Rwanda’s fertiliser use and increase farm productivity efforts.

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Morocco commits to expanding investments in Rwanda, creating sustainable jobs