As the spearhead of Morocco's African expansion policy, the CFC provides its members with tax benefits, the most important of which will disappear with the 2023 Finance Law.
Casablanca Finance City, Casablanca's growing financial centre
“Casablanca Finance City” refers to both:
- the business community created in Casablanca benefiting from numerous tax and administrative advantages
- the private law company “Casablanca Finance City Authority” founded under the name of Morocco Financial Board in December 2010 in charge of the administration of the group of companies called “CFC”
The objective was to create a dynamic eco-system to attract foreign companies to Morocco and help Moroccan companies export, with CFC becoming the spearhead of Moroccan export policy in Africa.
With the EEC in its sights since 2019, CFC has lost all the tax benefits the Moroccan state had granted it, a sine qua non to escape tax haven status and EU grey listing.
The CFC companies still benefit from purely administrative advantages that facilitate their international operations.
Since the creation of the CFC, Casablanca has steadily progressed in international rankings, rising from 60° to 22° (in 2022) in the GFGCI 25 ranking. In this ranking, it is the leading African financial centre, far ahead of Johannesburg (#48 in the global ranking), and the second in the Mena region, behind Dubai (#12).
