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According to the British Global Finance Centre Index report, Casablanca Finance City (CFC) is the first financial hub in Africa in its March 2017 ranking of the competitiveness of financial centres. Created in December 2010, the Financial platform was ranked 30th in the world after Paris (29th).
The report compiled by Z/Yen group and sponsored by the Qatar Financial Center Authority is a ranking of financial centres in the world. It evaluates the specifics and areas of competitiveness that 88 financial centers offer to the market. The GFCI also puts together twice a year a list of financial hubs that are improving, based on multiple indices and criteria.
The latest GFCI index was topped for the second time in a row by the British capital. London's Financial centre is leading the report over New York that came second followed by Singapore third, Honk Kong fourth and Tokyo in the fifth place. According to Mark Yeandle, author of the index, the top five positions did not change compared to the previous ranking, however, in the eastern region, Abu Dhabi's attractiveness has risen substantially.
CFC : Third in the Arab world
As for Morocco, represented by the CFC, the country has gained three points compared to last year. The city was positioned third in the Arab world after Dubai and Abu Dhabi and was able to lead the African group. As for North Africa, no other city of the four countries (Algeria, Tunisia, Egypt, and Libya) has made it to the list.
The GFCI 21st edition ranks the world’s leading financial centres based on an online questionnaire along with several organizations namely the World Bank, the Organization for Economic Co-operation and Development and the Economic Intelligence Unit, from British magazine The Economist. These establishments provide the index with valuable quantitative measures.
Moreover, to give a valuable reference for the global financial community, the GFCI report relies on five main indices : The “business environment” factor, the “Financial sector development”, the “Infrastructure factors”, the “Human development” and last but not least the “Reputation and General” index.
Collaborating with the China Development Institute, the index offers valuable information about world's leading financial centres. It details the regulations, tax rates, the economic freedom and the level of corruption in the environment of every listed financial centre. The GFCI also rates the value of trading, employment, business education and public transportation of the cities diagnosed.
The report «helps organizations make better choices», Mark Yeandle explains. It is updated every March and September since 2007 and its results are of a great value for investment and decision-making.
