In a Memorandum of Understanding, Frankfurt Main Finance e.V. (FMF) and the Moroccan Casablanca Finance City Authority (CFC) agreed on a long-term cooperation. Hubertus Väth, Managing Director of Frankfurt Main Finance, and Said Ibrahimi, CEO of the Casablanca Finance City Authority, signed the memorandum on 11 June 2018, at the Conference of Montreal.
The agreement focuses on current issues facing the financial industry such as green and sustainable finance as well as fintech start-ups. Moreover, the memorandum emphasizes the commitment of both financial centres to promote business opportunities in their respective economic regions, namely the Eurozone and Africa. Additionally, the agreement aims to foster the development of an effective cooperation via joint programs, financial trainings, research activities, workshops, publications and study trips.
Frankfurt Main Finance’s Managing Director Hubertus Väth declared, “Africa offers many opportunities for the financial industry. Inclusion and sustainability are important keywords. We look forward to working with Casablanca, a young yet leading financial centre on the African continent.”
Said Ibrahimi, CEO of Casablanca Finance City, stated, “We are delighted to sign this memorandum of understanding with Frankfurt Main Finance, the leading financial centre in the eurozone. The partnership will undoubtedly reinforce the business cooperation between the Eurozone and Africa in the fields of green/sustainable finance and Fintech.”
In the upcoming weeks and months, Frankfurt and Casablanca will implement their joint plans and thus, strengthen their positions as leading financial centres.