"The relationship between Spain and Morocco is an example for Europe and Africa"

Moderator of several tables and protagonist of an interesting presentation on geopolitical aspects, Abdou Souleye Diop, managing partner of Forvis Mazars, has had an outstanding participation in the Africa Spain Business Forum in Barcelona. 

Barcelona is hosting the second edition of the Africa-Spain Business Summit. Last year we had the opportunity to talk to you in Madrid. What has changed since then? What is the perception of relations between European countries, European investors and Africa? 

I think last year was the first step to exchange ideas, to present and talk about the relationship; it served to lay the foundations. Since then, many things have changed, such as the perception of the global environment, the great geopolitical stress resulting from the crisis in Ukraine and Russia, we recently came out of COVID... Now, things are moving slightly forward. African countries are regaining confidence in their economy, we have more investments and we are reducing the debt crisis a little bit. I think the context is more favourable. And what is very important: Spanish companies are also doing better in Africa. Since last year we have had some interesting contracts that Spanish companies have bid for, such as the desalination project in Morocco and others. 

One of the keys to these changes is the relationship between Morocco and Spain, which are the two closest countries on both continents. Since last year, the relationship has begun to rekindle: members of the Spanish government have made several visits to Morocco, and representatives of the Moroccan public and private sector have made many visits to Spain. So we are in a new phase in relations between Spain and Africa and, in general, between Europe and the African continent. 

How important is a good diplomatic, political and economic relationship between Spain and Morocco for promoting trade exchanges with the other countries of Europe and Africa? 

Spain and Morocco are barely 14 kilometres apart. 45% of Spain's exports to Africa go to Morocco, and Morocco is Spain's leading partner in terms of exports and imports. It is important to have a very close relationship between the two if we want to build this bridge between Europe and Africa. When the head of the Spanish government visited Morocco with more than 14 ministers, the focus of the discussion was not only investment in Morocco, but investment in Morocco as a bridge to Africa. I then had the privilege of being part of the debate, as chairman of the African Committee in the Moroccan private sector. 

When we came to Spain last January and February, we visited different regions and the main discussion with the CEOE and with Foment de Treball was about how Moroccan and African companies can invest in Europe through Spain, and how Spanish companies can invest through Morocco in the whole continent. This relationship between the two countries is very important for the relationship between Europe and Africa, and we try to use it as an example, because what we want to do between Africa and Europe is what is being done between Spain and Morocco, and it is very important to show other countries that it can happen. 

We have important projects in solar energy, renewables and infrastructure, sectors in which Spain has very interesting experience to bring to Africa. And Africa has enormous potential, which is of interest to Spanish companies, more as an investment than as trade. 

What changes do you think are necessary to increase the confidence of European businessmen and investors in the African continent? 

The first point, and there has been a lot of discussion about this during this conference, is communication: what is said about Africa. The perception of risk in Africa is much higher than in reality and we, as Africans, need to put value on the story, to put value on Africa, to make all Spanish and European investors understand that the risks are being mitigated. Not that they do not exist, because it is important to be transparent on this issue, but to show what is being done to mitigate them, because it is a reality. Laws have been implemented, there are legal frameworks that really work on the ground. When we talk about OHADA (the Organisation for the Harmonisation of Business Law in Africa), which is a common legal framework of 17 countries, and the OHADA Court of Justice, it's not just something on paper, it's something that actually works. People don't know about it, so we need to talk about it. 

We also need to explain that when there are political instabilities in some African countries, people think that when new rulers come in, everything changes. No; there is continuity, there is stability in business relations, and that is also very important. It is also important to underline the new philosophy of African leaders, which is the transition from aid to common prosperity and investment. We are open to investment. African countries are transforming their economies and many are moving towards industrialisation, and it is very important to show all that: what is being done from the legal point of view, from the governments, from the economic point of view, from the development plans, and how we can work together to advance Africa's growth for the benefit of the people, because that is key for Africans. 

We, the media, have the important task of communicating and transmitting the reality of African countries? 

Yes, I think it is very important for the media to transmit everything that is being done in Africa. That's why, when Atalayar asks me for an interview, I'm delighted to do it, because you give the right perspective on Africa: you talk about the economy, progress, cooperation.... You don't talk about disasters, because you are focused on the economy, which feeds the relationship between Europe and Africa. It is important that journalists and the media give the right perspective. We don't want to hide things, we just want to give the whole picture, not just the negative picture. And that is very important; thanks to Atalayar for giving us the opportunity to present and show Africa in the right way.