Morocco is a good investment destination as well as very attractive as the main gateway for investment in Africa and one of the good options for attracting capital to a North African country is the United Kingdom. The North African country has great potential for sustainable investment, green energy generation and investment opportunities are readily available.

The UK Export Finance public agency, in the form of the UK Government’s export credit agency, announced in a press release that it would allocate no less than 51,500 million dirhams (MMDH), or 4,830 million dollars to promote trade between Morocco and the United Kingdom. The announcement came as the export credit agency appointed a new International Export Finance Executive (IEFE) in Casablanca, giving UK exporters a boost with a minimum total contract value of 20% awarded to UK suppliers with overseas projects funded by UK Export Finance (UKEF). .

To facilitate trade between the UK and Morocco, UKEF has appointed the Casablanca-based IEFE to help create new opportunities for UK companies to export to the region. The financing will boost investment between the two countries by helping Moroccan buyers secure support for delivery of projects where at least 20% of the total contract value comes from UK suppliers.

UKEF acting chief executive Samir Parkash said: “I am proud that UKEF played a leading role in strengthening the historic trading relationship between the UK and Morocco, with our on-the-ground presence and support from our International Finance team. British companies have the opportunity to do more business with Morocco, a country that is seeking to offer a more sustainable future, and we look forward to supporting projects in the region.” Morocco offers a variety of opportunities for UK businesses, such as potential projects in energy transition, water desalination and infrastructure including railways, roads, ports and airports to boost the national economy through a new transport network. The announcement comes just weeks after UKEF announced it had deployed $2.8 billion to the continent in 2021, three times the amount invested between 2018 and 2019.The announcement follows the celebration of the 300th anniversary of the first trade agreement between the two countries.

British Ambassador to Morocco Simon Martin said: “It is great news that UKEF now has dedicated resources in Morocco. The challenge now lies with the Moroccan buyers to carry out their projects. With UKEF’s support, we can see a new wave of investment in Moroccan infrastructure, renewable energy and other sectors. I’m excited to see how this is going and look forward to seeing our partnership with Morocco continue to grow. ”.

IEFE’s appointment in Casablanca is UKEF’s latest achievement in expanding its global network and generating new business for UKEF and UK companies. It currently has 18 managers in the Americas, South Asia, Asia Pacific and Africa, with plans to increase that number to around 30 next year.Working closely with overseas buyers, financial lenders, UK trade commissioners and UK ambassadors, IEFE engages foreign governments and international companies looking to buy from the UK,creating significant business opportunities for UK companies.

He also recalled that Morocco offers British companies various opportunities, such as potential energy transition projects, desalination and infrastructure such as railways, highways, ports and airports, to boost the country’s economic growth through new transport networks.The agency noted that the announcement came after the two countries commemorated the 300th anniversary of the signing of the first trade agreement between the two countries.

UK Export Finance (UKEF) has a multi-billion pound capacity to support projects in UK-sourced African markets and can offer financing in up to 12 African currencies.You can help foreign countries access finance, loans and insurance to realize their projects, if they commit to sourcing goods and services from the UK.