New York - According to the Global Financial Centers Index (CFGI) ‘s latest semi-annual September report, Casablanca Finance City was ranked Africa’s 2nd Financial Hub.
Casablanca Finance City, now known for its economic potential, affirmed its position, by ranking 44th worldwide and 2nd at the continental level.
The CFGI index, which surveys international financial centers, submitted Casablanca in its ranking and proved it to be the second most important financial hub among African countries.
The Moroccan economic hub was preceded by Johannesburg, South Africa, which ranked 1st in the continent and 33rd worldwide.
The Global Financial Centres Index is compiled and published twice a year by Z/Yen Group, one of London’s most reputable think-tanks, and sponsored by the Qatar Financial Centre Authority.
The city of Casablanca first entered the ranking in March 2014 and occupied the 62nd place among 83 top financial centers worldwide.
According to the CFGI’s latest report, “CFGI 18,” Casablanca earned 12 points compared to the previous edition published March 17, 2015, with a cumulative score of 657 total points.
The CFGI is a ranking of the competitiveness of the world’s top financial centers. It combines instrumental factors in five broad areas: “business environment,” “financial sector development,” “infrastructure factors,” “human capital,” and “reputation and general factors.”
In addition, the questionnaire is created using 105 indices from international organizations including the World Bank (WB), the World Economic Forum (WEF), the United Nations (UN), the Organization for Economic Co-operation and Development (OECD), and the Economist Intelligence Unit (EIU).
In the latest ranking, Casablanca Finance City earned solid assessments from international financial services professionals who were questioned on the centers’ potential to gain competitiveness in the future.
The CFGI is used as a barometer for multinational companies to select the location of new subsidiaries.
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