The city of Casablanca is ranked first African financial center in 2023 according to the latest rankings of the Global Financial Centers Index (GFCI) which has just been published, AIB learned this Thursday from the media Moroccan 360.
The latest rankings of the Global Financial Centers Index (GFCI) have just been published. The ranking covered some 121 cities around the world taking into account 147 factors provided by third parties, including the World Bank, the Organization for Economic Co-operation and Development (OECD) and the United Nations.
To measure the performance of financial centers, the index takes into account several factors including the state of the local business environment, human capital, infrastructure and the development of the financial sector.
If large Western metropolises, such as New York and London, take pride of place in the world ranking, followed by Singapore and Hong Kong, African financial centers are not left out.
The financial center Casablanca Finance City (CFC) once again stood out in this vast survey, demonstrating the dynamism of the Kingdom’s economy.
Ranked 54th in the world, CFC gained three places this year in the GFCI ranking, which includes six financial centers on the continent.
At the top of this list comes, unsurprisingly, the Moroccan metropolis which thus confirms its African leadership. She is followed by Maurice who has built a solid reputation in recent years.
The financial center of Mauritius is placed 68th in the world in 2023 compared to 81st in the previous GFCI ranking. Next comes Kigali, 81st financial center in the world this year with a gain of 17 places.
Nairobi, with its 13 more places compared to the 2022 ranking, also confirms its attractiveness by occupying 5th African place.
Ranking by order of performance of financial centers in Africa in 2023
Center country rank Africa world rank score Places gained/lost
Casablanca (CFC) Morocco 1st 54th 682 +3
Mauritius MAURITIUS 2nd 68th 666 +13
Kigali Rwanda 3rd 81st 651 +17
Johannesburg South Africa 4th 83rd 642 -14
Nairobi Kenya 5th 90th 629 +13
Cape Town South Africa 6th 91st 628 -18
Source: GFCI
Unlike the aforementioned places, the two financial centers of South Africa which appear in the ranking, namely Cape Town and Johannesburg, are in free fall. The latter saw its reputation as an important financial center in Africa collapse, falling from 69th to 83rd place in the Global Financial Centers Index. Cape Town lost 18 places. A real shipwreck.
South Africa’s reputation as a leading financial center was seriously damaged after it was placed on the gray list of the FATF, an intergovernmental body that sets global standards to combat money laundering and financing. of terrorism.
Source: Burkina Information Agency