- Casablanca Finance City becomes Africa's top financial center
- GFCI rankings reflect changing competitiveness among African financial centers
- The index combines global data indicators and professional market sentiments
According to the 39th edition of the Global Financial Centers Index (GFCI) published on Thursday, March 26, 2026 by London-based think tank Z/Yen Group in partnership with the China Development Institute, the Casablanca Finance City (CFC) has overtaken Mauritius as Africa's most competitive financial centre.
The CFC is ranked 49th in the semi-annual index, which evaluates 120 international financial centers based on their competitiveness and attractiveness for investors, finance professionals and businesses worldwide.
Casablanca Finance City gained seven places from the previous edition and was ranked fourth in the Africa and Middle East region, behind the Emirati hubs of Dubai, Abu Dhabi and Doha. The Africa-focused hub, seen as a gateway to the continent, hosts more than 200 member companies across four main categories: financial institutions, regional headquarters of multinationals, service providers and holding companies.
Methodology based on data and market sentiment
Mauritius International Financial Center is ranked second in Africa and 50th globally, up two places from the previous edition.
Kigali (Rwanda), ranked 72nd globally, remains third in Africa despite falling seven places, ahead of Johannesburg (South Africa), which climbed 14 places to 80th globally and fourth in Africa. Cape Town (South Africa, 96th globally), Nairobi (Kenya, 114th) and Lagos (Nigeria, 118th) completed the African ranking.
Four of the seven African financial centers in the index, Casablanca, Mauritius, Johannesburg and Lagos, rose compared to the previous edition. Kigali, Nairobi and Cape Town declined.
A survey of professionals in global financial centers found Mauritius, Kigali and Casablanca among the 15 centers most likely to grow in importance over the next two to three years.
The GFCI rankings are based on two main data sources. The first combines 147 quantitative indicators of competitiveness across five categories, namely business environment, human capital, infrastructure, financial sector development and reputation, based on data from institutions including the World Bank, the World Economic Forum, the United Nations and the Organization for Economic Co-operation and Development.
The second source is a survey of 5,218 professionals in global financial markets, including asset managers, traders, banks and fintech firms.
Globally, New York retained the top spot, followed by London, Hong Kong, Singapore, San Francisco and Shanghai.
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