Morocco’s investments across Africa reached about US$542 million in 2024, accounting for roughly 20 percent of the kingdom’s total public and private investments abroad, Finance Minister Nadia Fettah Alaoui said, highlighting Africa’s central role in Morocco’s external economic strategy.
Speaking during an oral questions session at the Chamber of Counsellors, the upper house of parliament, Fettah said the figures illustrated the steady expansion of Morocco’s economic footprint on the continent, driven by both state-backed initiatives and private-sector expansion.
The data was presented in response to a question from lawmakers of the ruling National Rally of Independents (RNI) party, amid growing emphasis on South-South cooperation and Morocco’s ambition to position itself as a long-term investor and development partner in Africa.
“Africa has become a strategic destination for Moroccan capital,” Fettah told parliament, adding that investments now span key sectors including agriculture, finance and long-term development partnerships.
She said Moroccan engagement is underpinned by sustained capital flows and targeted sectoral strategies aimed at generating economic returns while supporting development objectives in partner countries.
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Agriculture and food security feature prominently in Morocco’s African investment drive, with Fettah highlighting the role of state-owned phosphate and fertiliser giant Groupe OCP.
The minister described OCP as a central actor in agricultural cooperation across the continent, particularly through initiatives designed to improve access to fertilisers and raise farm productivity.
According to Fettah, OCP has trained around four million African farmers in the use of fertilisers, as part of efforts to address what she called a structural shortage of agricultural inputs in many African countries.
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Fertiliser use in Africa remains far below global standards, she said, continuing to weigh on yields and food security.
Average fertiliser consumption on the continent does not exceed 22 kilograms per hectare, compared with a global average of between 140 and 146 kilograms per hectare, Fettah noted.
“This gap has a direct impact on agricultural productivity, especially in countries facing climate stress and rapid population growth,” she said.
The minister said OCP’s activities have already produced tangible results.
Fertiliser exports linked to the group’s African operations reached 2.8 million tonnes in 2024, up sharply from about 300,000 tonnes in 2013, reflecting more than a decade of expansion in production capacity, logistics and technical support.
OCP has invested in fertiliser blending plants, distribution platforms and farmer training programmes across several African countries, often through joint ventures and public-private partnerships aimed at tailoring products to local soil and crop needs.
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Beyond agriculture, Fettah pointed to the growing presence of Moroccan financial institutions across Africa as another pillar of the kingdom’s continental strategy.
She said Moroccan banks now generate between 15 percent and 40 percent of their total turnover from African markets, depending on the institution, underlining their deep integration into local economies.
Major Moroccan banking groups have expanded rapidly across West, Central and East Africa over the past decade, acquiring local lenders and financing projects in infrastructure, telecommunications, energy and small and medium-sized enterprises.
Analysts say this expansion has allowed Moroccan banks to diversify revenues while facilitating trade, investment and capital flows between Morocco and the rest of the continent.
The finance minister’s remarks come as Morocco continues to promote itself as a gateway between Africa, Europe and the Middle East, leveraging its political ties, financial sector and industrial base.
Rabat has made African partnerships a cornerstone of its foreign and economic policy, supported by high-level diplomatic engagement, trade agreements and development cooperation initiatives.
Moroccan companies are now active across Africa in construction, renewable energy, telecommunications, insurance, manufacturing, agriculture and finance.
While investment volumes remain modest compared with those of major global powers, Moroccan officials argue that their approach stands out for its long-term orientation and emphasis on capacity-building.
Fettah said the government aims to further strengthen this momentum by supporting Moroccan firms abroad, improving financing tools and aligning investment strategies with development priorities in partner countries.
As competition for markets and influence in Africa intensifies, Morocco sees its growing investment presence as both an economic opportunity and a diplomatic asset.
“The figures confirm that Africa is no longer a peripheral market, but a core pillar of Morocco’s external economic strategy,” the minister said.
