Fouzi Lekjaa calls for strengthened Moroccan businesses and African collaboration amid economic challenges

Thursday 23 January 2025 - 09:50

By: Dakir Madiha

Fouzi Lekjaa calls for strengthened Moroccan businesses and African collaboration amid economic challenges

Fouzi Lekjaa, Morocco’s Minister Delegate for Budget, recently attended a pivotal meeting at the General Confederation of Moroccan Enterprises (CGEM) headquarters in Casablanca. The gathering focused on key economic issues, including the 2025 Finance Law, preparations for the 2030 World Cup, and the ongoing drought crisis affecting the nation.

During the event, Lekjaa emphasized the need for enhanced collaboration between Moroccan businesses and their African counterparts. He highlighted the importance of empowering local enterprises, particularly those involved in organizing the 2030 World Cup, to ensure that economic benefits remain within Morocco. “This would add value that stays in Morocco,” Lekjaa stated, underscoring CGEM’s role in addressing economic challenges and fostering growth.

Lekjaa also stressed the importance of inclusive development, ensuring that small and medium-sized enterprises (SMEs) and the youth benefit from economic advancements. “We aim to ensure that the development we achieve in Morocco remains in the country, so the youth can benefit from it. Small and very small businesses also benefit, enabling them to grow and become bigger,” he added.

CGEM President Chakib Alj echoed these sentiments, noting that the meeting provided a platform to discuss critical financial strategies for funding large-scale projects, including infrastructure, renewable energy, and social protection initiatives. Alj also pointed out the need to address pressing issues such as the integration of the informal sector, incentives for SMEs, and reforms in professional training. “We must review professional training. It is an emergency to face the challenges that await us with the World Cup,” he said.

The discussions also touched on broader challenges, including the impact of artificial intelligence on employment and the severe drought affecting Morocco’s agriculture and water reserves. Despite these hurdles, Alj expressed optimism for 2025, citing significant investments in desalination and other projects aimed at mitigating the drought’s effects. “We are in the seventh year of drought, but thank God, we manage to tackle all this through a lot of investments that have been made and are being made,” he remarked.

The drought has led to rising commodity prices, particularly for agricultural products, causing concern among farmers and consumers alike. Government officials have attributed the price hikes to the lack of rainfall, though citizens have called for more proactive measures to address the issue. In a recent parliamentary meeting, the Minister of Agriculture sparked controversy by linking declining fish populations to drought conditions, suggesting that reduced rainfall has driven fish away, thereby increasing fishery product prices.

Meanwhile, in Moroccan markets, rising tomato prices have drawn public frustration. While the minister noted an 8% decrease in tomato prices, he acknowledged that red and white meat prices remain high, particularly as the country prepares for Ramadan, a period of increased demand for essential commodities.

CGEM has pledged to work closely with the government to address these challenges, focusing on creating job opportunities for youth and fostering entrepreneurship. “We need to create more jobs for our youth and have more entrepreneurs who trust their country. That is why we had this meeting today,” Alj concluded.

The meeting underscored the importance of collaboration between the public and private sectors in driving Morocco’s economic growth and addressing pressing challenges, from drought to global economic shifts. As the country prepares for the 2030 World Cup, the focus remains on ensuring sustainable development and long-term benefits for all Moroccans.