At a Glance
- Saudi Exim opens first African office in Morocco to boost trade, investment ties.
- The Casablanca branch positions the bank as a gateway for Saudi companies across Africa, Europe.
- Expansion supports Vision 2030 goals, diversifying exports beyond oil into emerging markets.
Saudi Export-Import Bank has received regulatory approval to open a representative office in Casablanca, marking its first physical presence on the African continent.
The announcement was made on Oct. 12, 2025, by Moroccan lawyer Abdelatif Laamrani, who advised the Saudi lender through the local legal process.
Laamrani, founder of Al-Amrani Law Firm, said the new office will serve as a regional base for the state-owned bank as it seeks to deepen trade and financial ties between Saudi Arabia and North Africa.
Strengthening trade and investment links
The Casablanca branch is expected to help Saudi Exim strengthen its foothold in African markets while supporting Morocco’s efforts to position Casablanca Finance City as a regional financial hub.
The office will also serve as a platform for Saudi companies looking to expand into the Maghreb and beyond.
Before setting up in Morocco, the bank had already increased its activities across the continent through several partnerships and credit facilities.
In August 2025, it signed a memorandum of understanding with Shelter Afrique, the pan-African housing and urban development finance institution, to fund infrastructure and urban projects in multiple African countries.
Earlier, in October 2024, Saudi Exim extended a $25 million credit line to Standard Bank South Africa to facilitate trade flows between the two nations.
The bank also entered into a cooperation agreement with United Bank for Africa in November 2023 to boost economic and financial collaboration across regions.
Expanding beyond oil under vision 2030
These partnerships reflect Riyadh’s broader ambition under its Vision 2030 economic reform program to diversify exports beyond oil and strengthen trade with emerging markets.
Established in 2020, Saudi Exim Bank provides financing, guarantees, and credit insurance to support Saudi exporters and help them compete globally.
Morocco’s appeal as a gateway to both African and European markets played a key role in the decision to open the bank’s first African office in Casablanca.
According to data from Morocco’s Exchange Office, bilateral trade between the two countries reached 26.4 billion dirhams ($2.86 billion) in 2024, up 7.3 percent from the previous year.
Moroccan exports to Saudi Arabia climbed 16.8% to 1.15 billion dirhams, while imports totaled 24.8 billion dirhams, driven largely by energy and manufactured goods.
Saudi Exim’s original expansion plan, announced in late 2022, included potential offices in Egypt and South Africa.
Choosing Morocco as the first location underscores the country’s growing importance in the region’s financial landscape and its role in bridging markets across Africa and the Middle East.
