In line with the goal of the Financial Centre for Sustainability, Lagos (“FC4SL” or “FC4S, Lagos”) to position itself as a champion and leading regional financial centre for sustainability in Africa, FC4SL commenced efforts to establish a relationship with the Casablanca City Finance Authority (“CFCA”), Morocco, one of the founding members of the FC4S Global Network. Consequently, a Memorandum of Understanding (“MoU”) was executed by both parties at a virtual Signing Ceremony which took place during the FC4S Global Network Annual General Meeting hosted by Finance , the Paris FC4S chapter, with about thirty-two (32) member countries in attendance.
This collaboration between FC4SL and CFCA, Morocco, sets to birth a mutually beneficial relationship that would ensure common practices are exchanged amongst both parties. The MoU signing symbolises the agreement by both parties to work together to drive innovative ideas that would assist in entrenching the concept of green and sustainable finance as well as aiding the delivery of the UN’s 2030 Sustainable Development Goals (UN SDGs).
Speaking to stakeholders present at the virtual Signing Ceremony, the Vice Chairman, FC4SL, and Chairman, Federal Government of Nigeria Economic Advisory Council, Doyin Salami, stated that “this partnership will likely foster intra-Africa trade and investment whilst helping to ensure that the whole ecosystem within the sustainable finance market is fully harnessed. Indeed, initiatives driven by both parties would be essential in tackling climate-related challenges as well as yielding tangible economic and social benefits for Nigeria, Morocco and beyond”.
The Deputy General Manager, CFCA, Morocco, Lamia Merzouki, who is also a newly elected Co-Chair of the FC4S Global Network, while addressing attendees present, reiterated that “CFCA is very glad to sign this MoU with FC4S Lagos”. She added, “With a solid green DNA and a committed team, I am confident that we can, hand in hand, positively impact the continent’s effort in meeting its SDGs, and help transition towards more sustainable economies.”