Moroccan-Senegalese Economic Impetus Group Set Up in Dakar

, 05/26/2015 /SubmitPressRelease123/

HM King Mohammed VI and Senegalese president Macky Sall chaired, on Monday, May 25, in the presidential palace in Dakar, the ceremony to set up the Moroccan-Senegalese economic impetus group.
The Moroccan-Senegalese economic impetus group is a body established by the two countries to structure and spur their economic partnership relations, promote co-emergence, encourage partnership between the two countries’ private sectors and monitor the implementation of private-private and public-private agreements between the two countries.
The inception of the new group is an implementation of HM the Kings instructions to further strengthen ties with Senegal, a sister country with which Morocco has a fruitful and multi-faceted cooperation.
It is also in line with the vision of the two leaders, HM King Mohammed VI and President Macky Sall, to make bilateral cooperation a model in Africa.
The new instrument, which was the subject of a memorandum of understanding inked last Thursday in Dakar, before HM the King and Senegal’s president, shows the diversity of agreements existing between Morocco and Senegal, and the shared will to broaden their scope of cooperation.
The Moroccan-Senegalese economic impetus group, which will convene twice a year, is co-chaired by the two countries’ foreign ministers and presidents of employers’ associations, and includes 10 priority sectors of activity, with a co-chairmanship on each side.

The body will contribute to fostering economic partnership between Morocco and Senegal and setting up a Senegalese-Moroccan Forum which will become a yearly event for the two countries’ economic actors.
HM King Mohammed VI and Senegalese president Macky Sall chaired afterwards the signing ceremony of 15 agreements of public-private and private-private economic partnership.

The main Agreements concluded were as follows:

– A memorandum of understanding to develop western African business city in Dakar, signed on the Moroccan side by foreign minister Salaheddine Mezouar, and CDG director general Abdellatif Zeghnoun, and on the Senegalese side by foreign minister Mankeur Ndiaye and CDC director Thierno Seydou Niane.

– A cooperation agreement on sea fisheries and aquaculture, signed by Senegalese fisheries and sea economy minister Oumar Gueye and agriculture and sea fisheries minister Aziz Akhannouch.
– An agreement between Morocco’s Groupe Banque Centrale Populaire (BCP) and the State of Senegal, on raising funds on the financial market of the West African Economic and Monetary Union (UEMOA) of up to 30 billion CFA francs. It was signed by Senegalese economy, finance and planning minister Amadou Ba and CEO of BCP Mohamed Benchaaboun.

– A financing agreement to restore the “ranch de doly” between Attijariwafa Bank Group and the Republic of Senegal, signed by Amadou Ba and CEO of Attijariwafa Bank Group Mohamed El Kettani.
– A partnership agreement between Morocco’s Atlantic micro-finance and Senegalese ministry of economy and finance, signed by Amadou Ba and CEO of BCP Mohamed Benchaaboun.

– An investment agreement between the Douja Development Company (Addoha Group in Senegal) and the Republic of Senegal, inked by Senegalese economy, finance and planning minister Amadou Ba and CEO of real estate development group Addoha Douja Development Anas Sefrioui.

– Memorandum of Understanding between the State of Senegal, the Bank of Africa Capital Holding and Marylis Senegalese BTP. It was signed by Senegalese Minister of Economy, Finance and Planning, Amadou Ba, and CEO of BMCE Bank Group, Othman Benjelloun – Memorandum of Understanding between the State of Senegal, the Bank of Africa and the Sovereign Wealth Fund of Senegal For Strategic Investments (FONSIS). It was signed by Senegalese Minister of Economy, Finance and Planning, Amadou Ba, FONSIS Managing Director, Amadou Hott, and CEO of BMCE Bank Group, Othman Benjelloun. – Financing agreement between Morocco’s Banque Centrale Populaire, Douja Promotion Groupe Addoha and the Senegalese Ministry of Economy, Finance and Planning, signed by Amadou Ba, CEO of Banque Centrale Populaire, Mohamed Benchaaboun and CEO of Douja Promotion Groupe Addoha, Anas Sefrioui. – Financing Agreement between the State of Senegal, the national cooperative of Senegal’s freight companies (CNETM) and Bank of Africa Senegal. It was signed by Amadou Ba, Chairman of the Board of CNETM, Mbargou Badiane, and CEO of Bank of Africa Capital Holding, Othman Benjelloun. – Partnership Agreement for solar energy development. It was signed by CEO of the National Agency for Renewable Energies of Senegal (ANER), Djiby Ndiaye, and CEO of Moroccan Agency for Solar Energy (MASEN), Mustapha Bakkoury. – Cooperation Protocol on the exchange of scholarships and internships for Moroccan and Senegalese students and executives. The protocol was signed by Managing Director of the Senegalese higher education, Mamadou Sangharé, and Managing Director of the Moroccan Agency for International Cooperation, Abderrahim Kadmiri.
– Partnership and cooperation agreement between Attijariwafa Bank Group and the National Agency for Investment Promotion and Large-Scale Projects in Senegal (APIX). The agreement was signed by Managing Director of APIX, Mountaga Sy, and CEO of Attijariwafa Bank Group, Mohamed El Kettani.
– Memorandum of understanding on strategic cooperation for the development of renewable energy projects within the framework of the “Great Green Wall” program between Green of Africa and FONSIS. The agreement was signed by Amadou Hott, FONSIS Managing Director, and Othman Benjelloun, representing the community of the members of the Green of Africa Alliance.

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