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Egypt: Attijariwafa bank launches Africa Development Club

The Moroccan group Attijariwafa bank conducted, on Sunday night in Cairo, the official launch of the Africa Development Club-Egypt, conceived by the group as a center for reflection, services and investment.

Speaking on this occasion, Mohamed El Kettani, President and CEO of Attijariwafa bank, stressed that the Africa Development Club aims to support sustainable development in Africa, to contribute to the implementation of projects which structured the continent and institutionalize the Africa Development International Forum organized since 2010 by Attijariwafa bank group.

The Africa Development Club is a meeting and reflection forum dedicated to the business community engaged in Africa, he said, indicating that the club “aims to be a platform of value-added services and an initiator debates and business meetings at the service of African business leaders and decision makers”.

Mr. El Kettani argued that the Egyptian branch of the Club will open up new business opportunities for Egyptian investors interested in the African market, adding that this pragmatic platform also constitutes a new bridge for economic and financial cooperation between the Kingdom and Egypt.

Morocco and Egypt have a clear strategic vision of South-South integration and cooperation at the African level, he said, adding that “Egypt is a strategic country open to the world, especially on Africa, while Morocco is the first African investor on the continent thanks to the African vision of the Kingdom initiated by HM King Mohammed VI for more than 20 years.

Meanwhile, Attijariwafa Bank’s Africa Development Club Director, Mouna Kadiri, said the Africa Development Club-Egypt is the club’s 10th African branch, noting that the platform aims to boost trade in Africa and to promote South-South cooperation.

With the help of regional exchanges and the facilitation of South-South Cooperation, this club offers a concrete dynamic of BtoB, BtoG, she said, adding that it is a platform reference of the economic and political community engaged in Africa.

Created in 2015, the Africa Development Club has local branches in Morocco, Egypt, Ivory Coast, Senegal, Mali, Mauritania, Tunisia, Cameroon, Gabon and Congo.

In 2017, the Moroccan banking group finalized the acquisition of Barclays’ subsidiary in Egypt, renamed “Attijariwafa bank Egypt”, extending the Attijariwafa bank group’s scope on the continent.

Present in 25 countries, the Attijariwafa bank group is the largest banking and financial group in the Maghreb with more than 4930 branches, 9 million customers and 20,000 employees.

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