Abu Dhabi-based Invest AD, which manages funds investing in the Middle East and Africa, is establishing an office in Casablanca to improve access to key markets in the region, including Nigeria, Morocco, and Tunisia.

Casablanca Finance City, a financial centre designed to act as a catalyst for growth in North and West Africa, will offer specific advantages to businesses operating in financial services, professional services and insurance, and to regional headquarters of international businesses.

The Moroccan Financial Board, which is responsible for running Casablanca Finance City, recently held a seminar in Dubai that attracted over 30 senior executives from UAE-based insurance companies, asset managers, banks and other finance firms.

Said Ibrahimi, chief executive of the Moroccan Financial Board, and keynote speaker at the seminar, said: "It has been encouraging to see strong interest from companies in the Arabian Gulf. North and West Africa has a prosperous future and Casablanca Finance City is well placed to help investors to access opportunities in the region and beyond by acting as a hub city.”

“In investment terms much of this region is uncharted territory and, by providing a gateway, Casablanca Finance City can help investors to participate in Africa's exciting transformation."

Casablanca Finance City is pioneering a more collaborative way African countries can work together to grow sustainably. The financial centre is designed to aggregate opportunity, remove traditional barriers to investment and give investors the economies of scale they need to take full advantage of growth potential in the Greater North West Africa (GNWA) region.

Through an ecosystem of international business, financial institutions and professional services, Casablanca Finance City will keep dealings with diverse African markets as simple and economical as possible, supporting the ambitions of investors and GNWA countries.

Nazem Fawwaz Al Kudsi, chief executive officer at Invest AD, said: "Global institutional investors are looking to deploy more capital in Africa, and want asset managers with on-the-ground expertise.”

“We believe Casablanca is an excellent base in Africa because of its geographical position, stability and its fast developing ecosystem of international financial institutions,” he added. – TradeArabia News Service