Forbes promotes Morocco’s business model
The prestigious American business magazine devotes a special edition to Morocco. In its latest February-March issue, Forbes Africa focuses on Morocco’s economic model, industrial performance (particularly in the automotive and aerospace sectors), investment attractiveness, tourism, renewable energies, and other sectors. Interviewed by Forbes, several Moroccan ministers and leaders explain the challenges of their respective missions, achievements, and ambitions. According to Ryad Mezzour, Minister of Industry and Trade: «As an African country, we have proven that we are capable of transforming, creating, and manufacturing a platform that is globally competitive in the production and supply of high-quality products. We have also invested heavily in infrastructure and free trade… We are working on many concrete projects for greater competitiveness in renewable energies, electric mobility, textile products, or even fertilizers to increase food security across the African continent». The magazine also highlights Morocco’s renewable energy objectives. «The share of renewable energies in the country’s energy mix has increased, from 26% in 2016 to 40% today, with a target of 52% by 2030. We believe that, at the current pace, we will reach this target well ahead of schedule. Morocco is also aiming to play a major role in the green hydrogen sector», says Mohcine El Jazouli, Minister in charge of Investment, Convergence and Evaluation of Public Policies.
Mining exploration: A growing portfolio
Forbes also looks at the potential of mining exploration. «We have discovered almost all the mines that have a potential», says Amina Benkhadra, CEO of Onhym (O National Hydrocarbons and Mining Office). She adds that the efforts of Onhym and its partners have been crowned by the discovery of several productive gas deposits. Through onshore and offshore studies and explorations, Onhym is closely monitoring the potential for gas discoveries in the Gharb region, in Essaouira and Tendrara, and off Larache. A total of 73 renowned oil and gas companies are involved in exploration activities. «Our portfolio is still growing, with new companies signing new agreements», says Benkhadra. Onhym oversees numerous projects and different types of mineral exploration, including precious metals, rare earths, uranium… in partnership with national and international groups.
Masen: «Desert to power» initiative
Ranked among the world leaders in green hydrogen, Morocco plans, according to Forbes, to announce «the Morocco offering» in the near future. The idea, according to Tarik Hamane, acting CEO of Masen (Moroccan Agency for Sustainable Energy), is to enhance the value of green hydrogen through industrial production, thereby accelerating the decarbonization of factories. The challenge is above all to get energyintensive industries on board and attract a new generation of investments for greater added value. Masen has also signed a partnership agreement with the African Development Bank (AfDB). This initiative, called «Desert to Power», aims to promote the development of renewable energy projects in Africa. The aim of this partnership is to support African countries, in particular those in the Sahel region targeted by «Desert to Power», in the development of renewable energy technologies best suited to their natural conditions and specific energy needs. The aim is to combine Masen’s expertise in the development of renewable energy projects with the African Development Bank’s operational experience in this sector, particularly in terms of sharing know-how, building capacity and experience, providing technical assistance, developing renewable energy projects, and mobilizing the necessary resources.
Amin Rboub
