Morocco and UAE strengthen economic ties through Atlantic-to-Gulf axis

Morocco and the United Arab Emirates are developing a strategic economic corridor known as the Atlantic-to-Gulf axis. This partnership aims to integrate Gulf capital with West African markets through significant investments in energy, logistics, and infrastructure. A central component is the Moroccan Atlantic Initiative, which seeks to provide landlocked Sahelian nations—including Mali, Niger, Burkina Faso, and Chad—access to the Atlantic Ocean via Moroccan port infrastructure.

Simultaneously, Middle Eastern financial institutions are expanding their footprint across the African continent. Emirates NBD Bank PJSC recently moved to acquire HSBC Egypt’s retail business to strengthen its regional presence. First Abu Dhabi Bank (FAB) has established a sub-Saharan representative office in Lagos and is seeking a banking license in South Africa. Additionally, Qatar National Bank (QNB) maintains a significant stake in the pan-African lender Ecobank, which reported a $423 million pre-tax profit in the first half of the year.