A recent study has revealed that Morocco invested 37 billion Moroccan Dirhams ($3.85 billion) in African countries between 2003 and 2017.
The study found that 53 per cent of these investments were in the banking sector, 17 per cent in the communications sector, 11 per cent in industry and 5 per cent in holding companies, Arabi21 reported on Friday.
Citing Moroccan newspaper Akhbar Al-Youm, Arabi21 added that regarding the distribution of investment, 55 per cent was concentrated in west African countries, 25 per cent in north African countries, 15 per cent in central Africa and 5 per cent in south African countries.
These investments were given to around 30 of Africa’s 54 countries, with Egypt receiving the lion’s share.
Meanwhile the US provides the most foreign investment in Africa, investing at least $60 million between 2011 and 2016, followed by the UK and France.