Morocco businesses eyeing investments in Sub-Saharan Africa urban cities

Morocco, a country taking significant steps towards innovative urban solutions, is looking to bridge the investment gap in urban cities across Sub-Saharan Africa. Taoufik Aboudia, CEO of Emerging Business Factory, is at the forefront of this transformation. During an interview with CNBC Africa, Aboudia emphasized the importance of integrating technology into urban city planning to address the challenges posed by rapid urbanization. With the African population expected to represent a quarter of the global population by 2050, the need for sustainable and efficient urban development is more pressing than ever. Moroccan initiatives are centered around fostering innovation, creativity, and digital industries, working in collaboration with city councils and regional councils to shape the future of urban cities. By leveraging digital tools such as simulation models and smart citizenship, Morocco aims to co-create solutions that cater to the needs and aspirations of local communities. Aboudia's vision extends beyond Marrakech, with plans to collaborate with partners in Nairobi and Sierra Leone to establish innovative programs that drive urban development across Africa. Sustainability and profitability are the pillars of this endeavor, with a focus on investments that benefit both the planet and its people. By mobilizing funds from various sources, including venture capitalists and city councils, Morocco aims to catalyze the transformation of urban cities, starting with key areas like mobility and waste management. The potential for impactful change is tangible, with projects requiring varying levels of funding ranging from millions to billions of dollars. However, Aboudia highlights the agility and efficiency of Moroccan startups, noting that innovative solutions can be implemented swiftly with the right support. Ultimately, the key outcome of these initiatives is the establishment of trust among stakeholders, paving the way for strategic investments that deliver tangible results and empower local communities.