Morocco: BMCE Bank of Africa launches Chinese branch in Shanghai

Morocco’s BMCE Bank of Africa launched Tuesday in Shanghai, China, its first branch in the world’s second largest economy as it positions itself as the channel between Chinese investors and Africa.

Present in China for over two decades as a representation office, MBCE Bank of Africa’s new branch, is located in the financial district of Pudong-la Shanghai Tower.

The new financial institution started operation in January this year and the Tuesday inauguration marked the 60th anniversary of the Moroccan powerful financial firm.

The shift from a representation office to an entire branch, according to the Bank’s CEO Othman Benjelloun, aims at contributing to establishing trust among economic agents, and among states.

The Shanghai office of the Moroccan banking group will assist Chinese business people seeking to invest in Africa. Chinese investors can use the already existing over 1650 branch-network of the bank. Moroccan investors in search of Chinese business partners or markets across Asia can rely as well as on the Shanghai branch.