Morocco and Rwanda have entered into an agreement that will see both countries promote each other’s financial investment and cooperation services.
The countries, through Casablanca Finance City (CFC) and Rwanda Finance Limited (RFL), have agreed to promote investment and cooperation between Morocco and Rwanda.
The agreement, signed on Wednesday via videoconference, seeks to promote best practices, through which CFC will support the development of the International Financial Center of Kigali (KIFC).
Saïd Ibrahimi, CEO of CFC, said: “We are very pleased to sign this partnership between CFC and RFL. This agreement allows us to expand our network of partnerships and to share our expertise with other African financial centres in logic of South-South cooperation”.
This partnership comes after the agreement sealed with the Rwanda Development Board (RDB), which aims to facilitate the business of CFC companies operating in Rwanda, added Mr Ibrahimi.
For his part, Nick Barigye, CEO of Rwanda Finance Limited said: “By capitalizing on the close relations between our two countries, this agreement emphasizes the improvement of the financial services sector. This is in line with our objective of transforming Rwanda into a service-oriented economy”.
The visits paid by King Mohammed VI to Kigali in 2016 and by President Paul Kagame to Rabat the same year gave a new impetus to the partnership between the two countries in trade, industry, finance, pharmaceutical industry, tourism, double taxation avoidance, agriculture, education, sustainable development, vocational training, tax-evasion prevention.