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Memorandum for Creation of African Network for Investment and Development Signed in Morocco

10:32, 7 October 2023

The first edition of the African Economic Forum of the Regions opened on Friday in Rabat under the theme: "The Rabat-Kenitra region is at the heart of the South-South dynamic for the emergence of an Africa of regions." It aims to promote the development of African territories and brings together officials and investors from 12 African countries

Sputnik

A memorandum of understanding for the creation of the African Regions Network for Investment and Development was signed on Friday in Morocco's capital, Rabat, at the opening of the African Regions Economic Forum.

The memorandum was signed on behalf of the Kingdom by president of the Rabat-Salé-Kenitra Regional Council, Rachid El Abdi, and the heads of 12 African regions representing countries from the continent taking part in the forum, namely Burkina Faso, Cameroon, Gabon, Guinea Conakry and Kenya, Mali, the Islamic Republic of Mauritania, Nigeria, the Democratic Republic of Congo, Rwanda, Senegal and the Union of the Comoros.

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According to the document, the African Regions Network for Investment and Development is intended as a framework for partnership and exchange that will strengthen cooperation between regions, stimulate investment and facilitate the exchange of expertise to help promote development.

The seven-article network is part of these countries' efforts to strengthen South-South partnership mechanisms and intensify social, economic and cultural ties between African countries and their populations.