How Morocco’s Casablanca Finance City Became Africa’s Leading Financial Center

How Morocco Casablanca Finance City Became Africa’s Leading Financial Center - Africa is an emerging continent, with a rapidly expanding population and economy. This encompasses the broader tech community as well as the financial industry. Emerging and future cities in the emerging market, particularly Africa, are beginning to arise and make their presence known in various rankings. The development of Africa's financial ecosystem is critical because it will not only bring new economic prosperity to the continent, but will also encourage homegrown talent and businesses.
For many years, South African cities such as Johannesburg and Cape Town have dominated the financial sector on the continent. However, this is changing since many countries are positioning their cities to be the financial hub in Africa. According to the Global Financial Centers Index published by Z/Yen, Casablanca is currently Africa’s leading financial center, holding 53rd place globally. Kigali, along with Lagos, is counted as an “associate center”, which does not yet meet all the criteria to be on the full list.
There are financial hubs in most countries in the world. Paris for example is the financial hub of France, as most major French financial institutions and France's largest stock exchange, Euronext Paris, are headquartered there. There are also international financial hubs that serve as the most important financial centers for regional economies. An example of such a financial hub is London, which serves as the financial hub for all of Europe. Other renowned financial hubs around the world include Singapore, Hong Kong, Tokyo and New York City.

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