Morocco-UAE Business Council Appoints Investment Veteran to Bolster Economic Ties

Tuesday 01 October 2024 - 15:40

Anas Guennoun, a seasoned investment banker and co-founder of West Capital Partners, has been named the new Chairman of the Morocco-United Arab Emirates Business Council under the Confédération générale des entreprises du Maroc (CGEM). This appointment marks a significant step in strengthening the economic relationship between Morocco and the UAE.

Guennoun, who succeeds Majid Iraqui, brings a wealth of experience to his new role. A graduate of Paris Dauphine University, he began his career at Société Générale's investment bank, where he specialized in advising French corporations on cross-border mergers and acquisitions. His expertise in private equity is particularly noteworthy, having co-managed several investment platforms in North Africa that raised over $600 million from institutional investors, including the International Finance Corporation and the European Investment Bank.

The new chairman's regional experience is extensive, encompassing transactions across Morocco, Algeria, Tunisia, and Egypt. He currently holds board positions in various Moroccan holding companies and family groups, and has previously served on investment committees of key funds. Guennoun's leadership roles also include Vice-Chairman of CGEM's International Commission and former Chairman of Education for Employment Maroc.

Upon his appointment, Guennoun expressed his enthusiasm for the role, stating, "I am honored by the trust placed in me to lead the Morocco-UAE Business Council and excited to contribute to the strengthening of trade relations between our two countries." He also acknowledged the foundational work of his predecessor, Iraqui, in fostering trade relations.

This leadership change comes on the heels of a landmark strategic agreement signed between Morocco and the UAE in December 2023, signaling a renewed focus on deepening economic cooperation. Under Guennoun's guidance, the council is expected to play a crucial role in facilitating new trade opportunities and enhancing the economic partnership between the two nations.

The appointment of Guennoun to this pivotal position reflects a strategic move to leverage his extensive financial and regional expertise to boost bilateral economic ties. As Morocco and the UAE seek to expand their economic collaboration, the Business Council under Guennoun's leadership is poised to become a key facilitator in this process, potentially opening new avenues for trade, investment, and mutual economic growth.