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Economy at the Center of King Mohammed VI’s Tour in East Africa

Economy and commercial exchanges will take center stage during King Mohammed VI’s tour in East Africa.


The Moroccan Royal Palace announced on Tuesday that King Mohammed VI headed to Rwanda, as part of his three-stage tour to East Africa.

Several big names in Morocco’s business community are accompany the Moroccan monarch during this trip, according to Telquel.

The tour will encompass Rwanda, Tanzania and Ethiopia. All three countries recognize the Polisario-backed Sahrawi Arab Democratic Republic (SADR), contrary to the kingdom’s wishes.

The corporate elites that will travel with the monarch are set to propose strengthening ties with the growing and modernizing Moroccan economy, in hopes to suspend the trio’s recognition of the Western Sahara separatist group’s puppet government.

The General Confederation of Moroccan Companies has assembled the group of prominent businessmen to accompany King Mohammed VI on the tour, which starts in Rwanda.

The CEO’s of BMCE Bank, Attijariwafa Bank, the People’s Bank (Bank Populaire), and Credit Agricole Morocco, the head of Casablanca Finance City Authority, and the Moroccan tourism and insurance sectors will be part of the delegation accompanying the king.

Moroccan businesses have yet to penetrate Rwandan markets, even though the sub-Saharan country has seen an average economic growth rate of eight percent over the past 15 years.

A closed meeting held between Rwandan President Paul Kagame and several members of Morocco’s private sector – including Cooper Pharma, Attijariwafa Bank and Parlmeraie Development – paved the way for the improvement of economic cooperation between the two countries.

“The investment projects discussed today include a pharmaceutical factory, hotel, real estate projects and a major acquisition in the banking sector,” according to Serge Kamuhinda, the director of operations for Rwanda’s specialized development committee, who made the comments after the June meeting.

King Mohammed VI also held talks at the Royal Palace in Casablanca with the President of the Republic of Rwanda, Paul Kagame, who was on an official visit to Morocco in June.

Jimirasire

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