Morocco has successfully garnered over $14 billion in financial commitments for a strategic project spearheaded by the Office National des Chemins de Fer (ONCF), as announced on Friday in Rabat by Akinwumi Adesina, President of the African Development Bank (AfDB).
Speaking at the closing press conference of the Africa Investment Forum (AIF), Adesina emphasized that the project, which originally sought $8.8 billion in funding, emerged as a standout success of this year’s forum. The initiative captured the attention of investors, who unanimously praised its strategic significance for Morocco’s development.
This achievement underscores the growing appeal of Morocco as a hub for large-scale infrastructure projects. The ONCF’s initiative highlights the country’s ambition to modernize its rail network and strengthen its role as a key player in regional connectivity.
The AIF 2024, held under the theme “Leveraging Innovative Partnerships for Scaling Up,” proved to be a powerful platform for catalyzing investment in transformative African projects. The forum attracted a total of $29.2 billion in investment interests, signaling heightened commitment to initiatives that support the continent’s economic growth.
As a cornerstone event for fostering strategic partnerships, the AIF continues to open direct access to high-impact investment opportunities across Africa, solidifying its reputation as a catalyst for the continent’s economic transformation. Morocco’s success at this edition is a testament to its ability to attract global capital for critical infrastructure projects, paving the way for sustained development and regional influence.
