Casablanca:African integration is urgent to drive the continent’s transformation, stated Morocco’s High Commissioner for Planning, Chakib Benmoussa, during the Casablanca Business Forum on Friday.

According to Agence Marocaine De Presse, Benmoussa emphasized the African Continental Free Trade Area (AfCFTA) as a key framework for economic integration. He highlighted the importance of using AfCFTA to not only boost intra-African trade but also to enhance the continent’s production capabilities and competitiveness of its value chains.

Benmoussa noted Morocco’s role in promoting South-South cooperation under the leadership of King Mohammed VI. Moroccan companies have significantly contributed to African economic integration through various initiatives, including the establishment of the Casablanca Finance City as a financial hub to strengthen financial integration across Africa.

The forum, organized by Casablanca Finance City under the theme “Africa’s Next Economic Chapter,” provided a platform for Benmoussa to discuss Africa’s development potential. He pointed out that Africa, with 1.5 billion inhabitants, holds 60% of the world’s uncultivated arable land and 30% of the world’s critical mineral reserves.

Benmoussa argued that realizing this potential requires a commitment to mobilization and collective action, along with creating unique development paths for Africa. He also highlighted the need for improved statistical systems, calling for initiatives that foster harmonized, open, and interoperable data.

Professor Philippe Aghion, a Nobel Prize-winning economist, contributed to the forum through a videoconference presentation, discussing conditions necessary to harness economic and technological changes as catalysts for growth and competitiveness.