Casablanca Strengthens Its Global Financial Position and Leads Africa in International Financial Centers Index
The economic capital of Morocco, Casablanca, has once again asserted its strong presence in the international financial arena, topping the list of African cities in the latest edition of the Global Financial Centers Index (GFCI), its thirty-ninth version, released by Z/YEN and Long Finance in partnership with the Chinese Academy of Development.
The city ranked 49th globally out of 120 financial centers, advancing seven places compared to the previous ranking, reflecting the dynamism of the Moroccan financial system and its ability to enhance its investment appeal.
On the international front, New York maintained its top position, followed by London and Hong Kong, while Dubai made a strong showing at seventh globally, leading the Middle East and North Africa region, surpassing Abu Dhabi and Doha. Casablanca ranked fourth regionally.
The report noted significant changes in the ranking of global financial centers, with Tokyo and Dubai entering the top ten at the expense of Chicago and Los Angeles, while Amsterdam replaced Dublin in the top twenty.
The index, which relies on 147 indicators based on data from international institutions including the World Bank and the OECD, indicated an overall decline in the average rating of the centers by 1.82%, with the largest drop observed in Latin America and the Caribbean.
Regarding fintech, Casablanca continued to improve its ranking, rising to 50th globally, achieving a leap of 20 positions, underscoring the growing role of financial innovation within the national framework.
Rinat Piktorov, a contributor to the report, emphasized that geopolitical and technological shifts necessitate continuous adaptation by financial centers, and that institutional stability, the ability to innovate, and international cooperation have become critical factors in attracting investment and enhancing global economic resilience.
