Morocco, under the impetus of King Mohammed VI, has turned industry into a central pillar of its economic transformation, Head of Government Aziz Akhannouch said Tuesday in Nairobi.
Speaking during a panel on financial architecture held as part of the Africa Forward Summit, attended by Kenyan President William Ruto, French President Emmanuel Macron, heads of African states and governments, UN Secretary-General António Guterres, and presidents of international institutions, Akhannouch said the Kingdom’s industrial momentum has led to a significant rise in exports.
He noted that this performance has been driven by structured sectors, particularly the automotive and aerospace industries.
Akhannouch added that Morocco is also positioning itself in emerging industries, including batteries, green hydrogen, and the industrial use of natural resources, stressing that Africa should be viewed as a continent of opportunities, solutions, and investment.
The Head of Government outlined four priorities that he said are essential to transforming Africa’s potential into industrial power.
The first priority concerns free trade. Akhannouch cited Morocco’s agreements with the European Union, the United States, and Africa through the African Continental Free Trade Area (AfCFTA), noting that Africa’s potential remains largely untapped, with intra-African trade accounting for only 16% of total trade, compared to nearly 60% in Asia and Europe.
The second priority is aligning production with each country’s natural assets. Akhannouch noted that, beyond its youthful population, Africa possesses 60% of the world’s best solar resources, while accounting for only around 1% of installed solar photovoltaic capacity.
The third priority focuses on improving conditions for attracting investment. In this regard, Akhannouch said industry can only develop sustainably if backed by strong infrastructure, competitive energy, efficient logistics, and a transparent business climate, highlighting Morocco’s experience in these areas.
He noted that Morocco has increased the share of renewable energy to more than 46% of its electricity mix by 2025, launched Africa’s first high-speed rail line, and established Tanger Med as a major industrial and logistics hub.
The fourth priority, Akhannouch said, relates to access to financing. In Morocco, industrial projects are supported through the new Investment Charter and the Mohammed VI Investment Fund, which mobilize public capital to build trust, share risk, and attract private investment.
The Africa Forward Summit brought together several heads of state and government to discuss ways of strengthening partnerships between Africa and France.
The summit focused in particular on promoting balanced and concrete partnerships, with emphasis on cross-border investment, economic development, training, and joint responses to global challenges.
