Moroccan Sahara poised to attract more French investments

The support by French President Emmanuel Macron of Morocco’s sovereignty over the Sahara, opens promising prospects for French investments in the territory.

Speaking to a Moroccan French business summit, during his state visit to the Kingdom oct. 28-30, President Macron urged more French investments across Morocco, including the Sahara, which he said, “is part of Morocco’s present and future sovereignty.”

Some French firms like Engie have been trailblazers in recognizing the Sahara region’s potential in renewable energies. The French group has partnered with Nareva to build a desalination plant and a wind farm in Dakhla.

The same company has expanded its operations in Morocco with a Joint Development Agreement with the OCP, that covers renewable energy, green hydrogen and ammonia production across Morocco, including the southern provinces.

Similarly, TotalEnergies plans a giant renewable energy project in Guelmim to produce green hydrogen.

The French support for Morocco’s sovereignty over the Sahara territory means that French public financing for projects in the territory will also be available, after the highest authority in the country urged more investments there.

Meanwhile, Morocco is paving the way for investments, building the necessary world-class roads, airports, and ports that will make the Sahara a gateway towards the larger African market.

For France, investing in the Sahara would help it stop a series of economic setbacks in the continent, where its firms were on the retreat in recent years.

The retreat was described by Macron at the French Moroccan business summit as a “terrible strategic mistake.”