It’s a strong signal for Moroccan finance—and a timely reminder of the challenges that remain. Casablanca Finance City (CFC) has once again claimed the top spot in Africa for financial competitiveness, according to the latest Global Financial Centres Index (GFCI), released on March 20, 2025, by London-based think tank Z/Yen Group in partnership with the China Development Institute. Globally, Casablanca climbed one spot to rank 56th out of 119 financial hubs—a modest but meaningful move.
While this steady rise reflects CFC’s growing credibility, no African financial center has yet broken into the global Top 50, a tier still dominated by heavyweight players like New York, London, and Hong Kong.
In this 37th edition of the GFCI, seven African cities made the cut. Casablanca leads the pack, ahead of Port Louis (Mauritius, 58th) and Kigali (Rwanda, 72nd), followed by Cape Town, Johannesburg, Nairobi, and Lagos. Of these, only three—Casablanca, Port Louis, and Nairobi—moved up in the rankings; the rest either stalled or slipped.
Casablanca also holds on to its number three ranking in the broader Middle East and Africa region, trailing only Dubai and Abu Dhabi, two firmly established financial powerhouses in the Gulf.
Originally launched with the ambition of turning Morocco into a business gateway to Africa, CFC has grown into a thriving platform hosting over 200 companies. Its appeal lies in a combination of macroeconomic stability, favorable tax incentives, and strategic geography—all critical advantages for multinationals, financial institutions, consulting firms, fintech startups, and investment holdings looking to tap into Africa’s evolving markets.
Still, despite its momentum, Casablanca remains outside the elite circle of global financial capitals. The GFCI rankings draw from both hard data—140 quantitative indicators from sources like the World Bank, UN, and OECD—and qualitative input from nearly 5,000 finance professionals worldwide. And while Casablanca scores well regionally, the global field is fiercely competitive.
Cities like New York, London, Singapore, and San Francisco continue to dominate, benefiting from deeper markets, more mature ecosystems, and a consistent ability to attract talent and capital at scale. For Morocco to compete at that level, it must continue to invest in talent development, upgrade financial infrastructure, and build a stronger international reputation.
That said, Casablanca’s rise is no fluke. It reflects real progress, driven by strategic planning, political stability, and a clear vision of Morocco’s role as a regional financial leader. But if the country hopes to elevate CFC from a continental champion to a truly global player, the next milestone is clear: breaking into the world’s Top 50 financial centers.
It’s an ambitious goal—but a realistic one, provided Morocco doubles down on reforms and continues to prioritize openness, innovation, and human capital as the cornerstones of its financial future.
