Gitex Africa Morocco: Oracle invests $140 million in Morocco

Marrakech, Wednesday, May 29, 2024

As part of their participation in the 2024 edition of GITEX Africa Morocco, the Minister Delegate to the Head of Government, in charge of Investment, Convergence and the Evaluation of Public Policies, Mr. Mohcine JAZOULI, the Minister Delegate in charge of Digital Transition and the Reform of the Administration, Mrs. Ghita MEZZOUR, the General Director of the Moroccan Agency for Investment and Export Development, Mr. Ali SEDDIKI and Oracle's Executive Vice President Cloud & Tech for the EMEA region, Mr. Richard SMITH, signed a Memorandum of understanding, worth $140 million over five years, in Marrakech on Wednesday May 29, 2024.

This partnership with Oracle, the first hyperscaler to set up public cloud regions in North Africa, will pave the way for the creation of a comprehensive suite of next-generation cloud services, hosted in two Moroccan data centers in Casablanca and Settat. This major project will enable local and regional businesses to access next-generation cloud services, thereby improving their efficiency and competitiveness.

On this occasion, Mr. Mohcine JAZOULI, underlined that “Oracle's investment in Morocco testifies to the strong confidence in the expertise and talent of Moroccan youth. Today, we are counting on this talent as part of our commitment to promoting technological progress in our country.”

For his part, Oracle's Executive Vice President Cloud & Tech for the EMEA region, Mr. Richard SMITH, said that Morocco is “one of Africa's largest economies benefiting from strong commercial and cultural ties with West Africa, the Maghreb and Europe” and added that the Kingdom of Morocco “offers unique growth opportunities for companies looking to accelerate their expansion by deploying the latest digital technologies.”

This major event demonstrates the international community's confidence in the Kingdom and highlights its immense potential as an investment destination.