Intra-African trade is growing. Morocco wants a bigger share.
Intra-African trade is forecast to grow 10% in 2026, reaching $230 billion, according to Ecofin Agency. That figure was $210 billion in 2025 and less than half that a decade ago. The African Continental Free Trade Area (AfCFTA), now ratified by all 54 African Union member states, is the engine behind the acceleration.
Morocco is moving to position itself at the center of that growth. At a trade finance summit in Casablanca this month, organized by Attijariwafa Bank (Morocco's largest private bank, $6.2 billion in Tier 1 capital), Club Afrique Developpement, and ASMEX (Morocco's exporters' association), public and private sector leaders mapped out strategies to convert the AfCFTA's theoretical potential into actual cross-border deals.
The numbers behind the bet
Intra-African trade now accounts for roughly 16% of the continent's total trade, up from less than 10% two decades ago (Afreximbank African Trade Report, 2025). That still trails other regions. Intra-EU trade accounts for about 60% of EU members' total trade. Intra-Asian trade sits near 50%. Africa's 16% reflects both the opportunity and the obstacles.
Morocco's exports to AfCFTA member states are growing faster than exports to any other region. The country is already the continent's leading car manufacturer, with Renault and Stellantis vehicles assembled in Tangier and Kenitra appearing on roads in Lagos, Nairobi, and Abidjan as cross-border tariffs fall. Morocco also exports fertilizers from its OCP Group phosphate operations, processed food products, and electrical machinery across the continent.
Full AfCFTA implementation could boost intra-African trade by 52% by 2035, according to projections cited by the AfCFTA Secretariat. Morocco, alongside South Africa, Egypt, Nigeria, and the DR Congo, is expected to lead continental exports through 2043.
The financial plumbing matters as much as the goods
Trade agreements mean little if payments cannot cross borders efficiently. Morocco joined the Pan-African Payment and Settlement System (PAPSS) in July 2025, becoming its 17th member country. PAPSS allows banks across Africa to settle cross-border transactions in local currencies, bypassing the US dollar. The system is projected to save the continent more than $5 billion annually in transaction costs (Afreximbank, 2025).
Attijariwafa Bank, which operates in 14 African countries, has also partnered with payments firm Thunes to enable near-instant cross-border transfers for Morocco's 30 million bank account holders. Mohamed El Kettani, the bank's CEO, told the Casablanca summit that the AfCFTA represents "the largest regional free-trade zone in the world, with a market of nearly 1.3 billion people" (Medias24, April 2026).
Where Morocco stands versus peers
South Africa dominates intra-African trade by volume. Egypt leads in North Africa. But Morocco has two structural advantages. First, geography: it sits at the intersection of Europe, Africa, and the Atlantic shipping lanes, with the Tanger Med port (Africa's largest by container volume) as a logistics anchor. Second, manufacturing depth: unlike commodity-dependent African exporters, Morocco ships finished goods, from cars to canned fish to aerospace components.
The obstacle is the same one that slows the entire AfCFTA: non-tariff barriers. Customs delays, inconsistent regulations, poor transport infrastructure between African capitals, and financing gaps continue to undermine the agreement's promise. Southern Africa remains the primary driver of intra-regional trade. North Africa, including Morocco, is strengthening ties with sub-Saharan markets, but progress is uneven.
What this means for investors
Morocco is building the infrastructure, both physical and financial, to become Africa's trade gateway. The combination of Tanger Med, PAPSS membership, and a bank with operations across 14 African countries gives it a platform few continental peers can match. For investors watching Africa's intra-continental trade story, Morocco is the manufacturing and logistics node to track. The question is whether the AfCFTA's promise will translate into reduced barriers fast enough to justify the positioning.
Sources: Ecofin Agency (November 2025), Afreximbank African Trade Report (August 2025), Medias24 (April 2026), Morocco World News (November 2024), African Business (November 2025), The Fintech Times (July 2025).
