In collaboration with our client, a key player in the plastics sector, our recent project delved into Morocco. The objective was to equip them with a profound understanding, enabling strategic decisions and successful operations in the country.
Our research began with a look at Morocco’s economic landscape, shaping the context for our client’s market entry strategy. Morocco, a substantial African economy, boasts a GDP exceeding $134 billion, placing it as a lower-middle-income country with a GDP per capita surpassing $3,500. Despite global challenges in 2020, Morocco’s GDP growth over the last decade reflects resilience, establishing it as a stable and favourable business destination. Currency dynamics revealed fluctuations in the Moroccan Dirham (MAD), but the current trend shows appreciation against the USD, fostering investor and business confidence.
Morocco’s strategic memberships in regional and global unions, including the Arab Maghreb Union, the Community of Sahel-Saharan States, Pan-Arab Free Trade Area, and the Arab-Mediterranean Free Trade Area, contribute to its appeal for international business. Looking ahead, projections from CNN Business indicate Morocco’s ascent as the 6th largest economy in Africa by 2030, with a projected GDP of approximately $184 billion.
We gave strategic recommendations to our client, ensuring they are well-positioned to capitalize on the evolving opportunities within Morocco’s plastics market.
What is your potential in Africa? We can help. If you have any questions, contact us at info@africon.de.
Read previous SOTMs (Slides of the month) here
Slide of the month (SOTM) July. What opportunities exist in the edible oil industry in Kenya?
Slide of the month (SOTM) May. The size of Africa’s travel retail market
