GITEX‘s inaugural occasion in Africa made its debut in Marrakech, Morocco on 31 Could to 2 June. Tens of hundreds of attendees from throughout the continent and past attended to go to over 900 exhibiting corporations, over 250 convention audio system and 30 authorities delegates from African nations. On the occasion, we discovered how Morocco is profiting from turning into a hub for African progress.
Forty-two years after its inception, GITEX Africa 2023 represents the primary time a GITEX occasion has been hosted exterior of Dubai. The Morocco-based occasion targeted closely on making a platform to help collaboration and dismantle a few of the limitations and factors of friction between Africa’s 54 nations.
In the meantime, the occasion additionally championed Morocco’s personal tech ecosystem and startups, with an goal to bolster its personal progress: by showcasing over 100 of the companies working inside its borders.
Following a gap ceremony, full with the Moroccan nationwide anthem, Aziz Akhannouch, Morocco’s Head of Authorities, defined the importance of Marrakech being GITEX’s metropolis of option to host the occasion, which has established a excessive degree of notoriety within the tech world, while in Dubai.
“Marrakech is an emblem of the cultural heritage of Morocco,” he defined. Akhannouch additionally mentioned how GITEX Africa may create a brand new platform to assist “set up a robust pan-African economic system”.
Chakib Alj, president of the Common Confederation of Moroccan Enterprises, mirrored the sentiment of Akhannouch and declared that Marrakech internet hosting the occasion is an “affirmation of Morroco’s efforts” throughout current years. Alj then commented on the “know-how panorama that’s now enticing to international traders” that Morocco has created.
Encouraging and attracting larger ranges of funding from international VCs and the non-public sector was additionally a recurring level through the occasion’s keynotes and panel classes. Akhannouch himself referred to as for this and urged Africa to “additional develop and encourage funding in startups, small and medium-sized companies and encourage innovation in AI and IoT” so as to capitalise on its distinctive place.
Why Morocco?
Trixie Lohmirman, government vp of the Dubai World Commerce Centre and CEO of KAOUN Worldwide, the worldwide occasions firm and organiser of GITEX Africa, spoke to The Fintech Occasions on what made Morocco, and particularly Marrakech, a perfect host location for the worldwide know-how occasion:
“You want a vacation spot that has sturdy infrastructure, whether or not it’s connectivity or street transport. It should have a robust trade to underpin it, whether or not it’s a robust monetary sector, automotive manufacturing or agriculture, to offer it the impetus for development.
“The federal government concerned additionally wanted to have a great digital transformation programme to help the event of the occasion going ahead within the subsequent few years,” she stated.
Lohmirman additionally defined that Marrakech’s geographical location made it a robust contender for turning into the host: “It connects the Japanese and Western worlds, whereas additionally connecting to the North. Being a Francophone nation can be essential. So, geographically, the connections out there give a variety of power to Marrakech.
“We would have liked a variety of cooperation with the federal government to make an occasion like this occur and we’re very grateful to the Moroccan authorities for making this occur. We’ve facilitated incoming guests and attendees from over 100 nations to date”.
Explaining how the occasion may show helpful to Morocco’s personal startups and SMEs, Lohmirman stated: “The industries in Africa can now hold tempo with the remainder of the world. GITEX Africa can help Moroccan corporations in conserving tempo with opponents throughout the globe. This occasion will help present the momentum and openness to advertise change throughout the continent. GITEX is all in regards to the energy of individuals and know-how,” Lohmirman commented.
Morocco’s largest challenges
Regardless of a constructive outlook on the way forward for each Morroco and the African continent, Chakib Alj shone some gentle on a few of the most urgent challenges the African know-how ecosystem finds itself in: “Regardless of a quickly rising variety of customers, the web penetration charge in 2021 was solely 41 per cent.
“Bridging this hole is important. Attracting and retaining expertise can be an essential problem to contemplate. We will make African abilities keep right here and thrive, by investing in and making a vibrant know-how ecosystem. We have to unlock extra funding for startups and make them, and this area, extra enticing to traders.”
Habiba Ben Barka, chief Africa part on the United Nations Convention for Commerce and Growth (UNCTAD), additionally defined the problems pertaining to the non-public sector: “The non-public sector has a major function when it comes to diversifying commerce on the continent. The difficulty of the non-public sector in Africa is they’re largely small, micro or medium-sized, within the case of great challenges. Entry to finance has been an amazing burden on them to have the ability to speed up the transformation of African economies and people are a few of the points we’re taking a look at and the way we may leverage a few of the financing companies.”
The function of the regulator in Morocco
The function of the regulator in each Morocco’s successes and failures additionally emerged as an essential speaking level in quite a lot of the classes on stage at GITEX Africa 2023. Ismael Belkhayat, founder and CEO of Morocco-based e-commerce app Chari, touched on the constructive results of regulation lately:
“Morocco is a neighborhood champion in relation to banking. We’ve very sturdy banks which have accomplished an amazing job banking with the employees but in addition increasing exterior of our boundaries and we’re very pleased with it. We’re additionally very pleased with the regulator, which has put in place the proper authorized framework to make that occur.”
Regardless of the positives, a sense that present regulatory laws is just too strict to allow innovation additionally emerged on stage quite a lot of instances. Mehdi Tazi, common vp of the Confederation of Moroccan Firms, defined how this regulatory panorama is presently slowing progress: “Morocco has a really regulated economic system. That is good as a result of the banking and insurance coverage sectors are very sturdy. Nonetheless, it doesn’t create a beneficial atmosphere for smaller monetary companies and fintechs.
“We additionally want to search out new financing options. Financing exists for smaller corporations at an early stage, however we don’t discover sufficient financing to assist companies go additional.”
In an effort to ease a few of the points the Moroccan tech ecosystem is experiencing, Tazi additionally defined that the nation must “proceed coaching its younger individuals” and mentioned the confederation’s goals seeking to make this a actuality: “We wish to attain 15,000 individuals skilled within the AI growth and cybersecurity sectors”.
A constructive subsequent step for Moroccan progress
A large variety of African startups have been capable of showcase their capabilities and meet potential clients, companions and traders on the occasion. One-hundred Morocco-based startups have been chosen to type the ‘Morocco100’, an initiative created to help them in better-attracting traders on the occasion.
Considered one of many Moroccan fintech exhibitors on the occasion was Mehdi Zirari, the chief product officer and co-founder of KONTA, who spoke to The Fintech Occasions about how GITEX Africa may gain advantage different fintechs from the nation: “The principle profit is to help them in increasing their attain. It will possibly assist them be taught slightly bit extra in regards to the variations between African nations – as a result of all of them have completely different rules. The occasion provides the chance to shortly perceive that there are variations between all nations and to search out the proper markets.”
“We had the chance to fulfill with potential shoppers, like resolution suppliers that may assist us attain their very own market, like in Dubai, Saudi Arabia, Kenya and Nigeria. We have been capable of contact them and due to this fact discover companions that know these markets, and if every little thing suits, be capable to attain them”.
With the GITEX occasion already planning its return to Africa subsequent 12 months, the way forward for Morocco’s know-how and monetary companies might be getting into a brand new chapter, alongside the remainder of the continent.
