According to news published by (morocco world news) the Moroccan city of Casablanca has ranked as the seventh best city for the opening of new startups in the Middle East and North Africa (MENA) region. The news was based on a report published by Belgium-based internet marketing service Sortlist.
Sortlist’s September 27, 2022 report titled “The Best Places in the UK and MENA to Start a Small Business” is a guide to small and medium-sized enterprises (SME) in the region.
The Moroccan economic capital has an average broadband speed (Mbps) of 27.2, a happiness score of 4.92/10, and a literacy rate of 72%, the lowest in comparison to the cities featured in the ranking’s top 13, the report indicated.
In addition, Casablanca’s average monthly office rental price stands at £184.31 (MAD 14,426) per square foot, while electricity cost stands at £9.60 (MAD 117) per kilowatt hour (p/kWh), the highest in comparison to the top-13 list. The Moroccan city recorded an SME startup score of 4.58/10.
Casablanca recently ranked as the fourth best city to do business in Africa, where the Moroccan city enjoys its position as a leading financial and economic hub in Africa and the MENA region.
According to Startup Genome’s 2022 Global Startup Ecosystem Report, Casablanca ranked as the third top regional challenger for the MENA region’s biggest startup hubs.
The MENA region has become a “popular choice” for new startups this year, indicated Sortlist’s report, explaining that startups in the region have raised $323.7 million (MAD 3.5 billion) across 66 deals in June 2022 alone.
Last Updated on October 29, 2022 by Safiya K
