Michael Bloomberg thanks Morocco’s King for hosting 1st New Economy Gateway Africa Forum

U.S. billionaire and politician Michael Bloomberg has expressed his gratitude to King Mohammed VI for hosting and supporting the first Bloomberg New Economy Gateway Africa conference which opened Tuesday in Marrakesh to discuss the continent’s infrastructure potential, clean energy, and healthcare challenges.

“Welcome to Marrakesh and to our first Bloomberg New Economy Gateway Africa,” said the Three-term Mayor of New York City in his opening remarks made remotely.

“Over the next two days, you will take part in conversations on main challenges facing the planet: a slowing global economy, rising food and energy cost, tightening financial conditions and accelerating climate crisis”, added the Founder of Bloomberg LP & Bloomberg Philanthropies.

“These changes are affecting every region & industry and confronting them will require creativity & boldness and public-private partnerships,” said Mr. Bloomberg, noting that by working together, “we can drive innovation and create new jobs, strengthen international relationship and build a more sustainable and equitable future.”

“Africa has a critical role in all these areas. It is an economic engine, a global trade gateway and increasingly a key leader in all planet’s fight against climate change,” said Mr. Bloomberg, affirming that Morocco is at the center of all these global challenges.

For his part, Head of Moroccan Govt. Aziz Akhannouch said the forum will showcase the tremendous potential of Africa which is positioning itself within the global value chains and has one of the largest free trade zones in the world, AfCFTA.

Over the past 20 years, Morocco has significantly enhanced its engagements with its continent, emerging as the leading African investor in West Africa and the 2nd largest African investor on the entire continent, said Mr. Akhannouch

“Under the leadership of King Mohammed VI, Morocco has successfully positioned itself as a strategic force within its regional sphere. With confidence and comprehensive efforts, we have undertaken institutional reforms to strengthen democracy and uphold the principles of the rule of law,” added the Moroccan PM, noting that the North African Kingdom has built a diversified & robust economy, internationally-recognized infrastructures and high performing industries.

Morocco’s financial, agro-industrial, automotive, aerospace, textile, pharmaceutical and other sectors have become benchmarks worldwide, underlined Mr. Akhannouch, affirming that his country, a leader in renewable energy in Africa, plays a significant role in the forthcoming energy transition

“Morocco is now entering a new phase of development as an emerging strategic player in the region, thus establishing itself as an attractive platform for international investments,” added the Prime Minister, citing in this regard the new investment Charter adopted for the emergence of new generation of entrepreneurs and investors who will support the expansion and involvement of the private sector.

Thanks to its attractive business environment, Morocco enjoys broad international recognition from several organizations and international rating agencies which confirm the country’s political, economic and social resilience and stability, said Akhannouch.

Morocco’s geographical position, energy assets and robust infrastructures make the Kingdom an ideal partner for the restructuring of existing value chains at the continental and global levels, affirmed the PM, noting that the North African Kingdom has always served as a bridge connecting Africa and Europe, and forging enduring and reliable partnerships.

The Bloomberg Marrakesh conference, which is bringing together leaders from the private and public sectors, is looking into Africa’s infrastructures sustainable development and potential for solar, wind and geothermal energy to meet the continent’s fast-growing demand for affordable and sustainable power.

The agenda also features debates on private capital in Africa, debt burden which is affecting the continent, drugs & vaccines manufacturing as well as the business of sports.

In Africa, home to the world’s fastest-growing population, football is booming and achievements, such as Morocco’s historic advance to the World Cup semi-final are inspiring. Basketball and boxing are also very popular. African nations want a bigger slice of the global sports pie and the right to host major tournaments, like the World Cup or the Olympics.