The Sustainable Business Economics Center (SBEC)

VISION / OBJECTIVES

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The Sustainable Business Economics Center (SBEC) aspires to become a leading regional hub for business economics, providing actionable knowledge and advancing strategic foresight to promote sustainable economic models across Morocco and Africa.

KEY FOCUS AREAS

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Complexity-based Economic Diversification

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Macro-sectoral Impacts of Global Disruptions

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Developmental Role of Moroccan SOEs

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African Carbon Markets

Presentation

In an economic landscape shaped by uncertainty, global disruptions, and accelerated transitions, Moroccan and African businesses are increasingly called upon to rethink their value creation models and enhance their capacity for strategic anticipation and adaptation.

In response to these complex challenges, the Sustainable Business Economics Center (SBEC) was established at Mohammed VI Polytechnic University (UM6P) with the mission of supporting both public and private decision-makers through cutting-edge empirical research and high-quality executive education tailored to the region’s specific needs.

Firmly grounded in the economic realities of Morocco and the African continent, SBEC draws on the strengths of UM6P’s interdisciplinary ecosystem and cultivates strong partnerships with businesses, government institutions, and international organizations. Positioned at the intersection of economic theory, advanced quantitative methods, and sustainability practices, the Center aims to inform strategic choices and enable more adaptive, evidence-based policymaking.

Research Axes / Main Themes

A. Complexity-based Economic Diversification

Adaptation and application of complexity-based tools to monitor Morocco’s economic structure, uncover hidden constraints, and identify viable and sustainable pathways for industrial and regional diversification.

B. Macro-sectoral Impacts of Global Disruptions

Modeling and assessing the effects of economic, political, and climatic shocks on different sectors, with targeted strategic recommendations to enhance resilience and adaptability.

C. Developmental Role of Moroccan State-owned Enterprises (SOEs)

Assessment of SOEs’ potential to serve as catalysts for economic diversification, innovation diffusion, and the green transition, while generating inclusive social outcomes at both national and local levels.

D. African Carbon Markets

Analysis of Morocco’s and Africa’s participation in carbon markets, including MRV (monitoring, reporting, and verification) methodologies adapted to African contexts and a review of relevant regulatory frameworks and market participation mechanisms.

Faculty Members of the Center

Mounssif Aderkaoui

Professor at Mohammed VI Polytechnic University, Director of SBEC

Mounssif Aderkaoui is a Professor at Mohammed VI Polytechnic University, affiliated with both the Africa Business School (ABS) and the Faculty of Governance, Economics, and Social Sciences (FGSES). He is the Founder and Director of the Sustainable Business Economics Center (SBEC).

Professor Aderkaoui is an expert in economics and public policy with over two decades of experience spanning academia, government, and international development. Before joining UM6P, he served as Director of the Department of Studies at Morocco’s Ministry of Economy and Finance, where he led national macroeconomic analyses, policy evaluations, and strategic foresight initiatives.

Throughout his career, he has directed numerous research and policy projects in partnership with leading international institutions including the World Bank, IMF, OECD, French Development Agency (AFD), UNDP, UN-Habitat, and UN Women.

He has served on several high-level scientific and advisory bodies, notably as President of the Centre for Mediterranean Integration (CMI) since 2021 and Vice-President of the OECD Initiative on Global Value Chains, Production Transformation, and Development since 2019.

Professor Aderkaoui holds degrees from École Polytechnique (France), the University of Bristol (UK), and Télécom Paris (France).

Bilal Islah

Assistant Professor of Business Economics, Africa Business School

Bilal Islah is an assistant professor of business economics at the Africa Business School, Université Mohammed VI Polytechnique (UM6P). Prior to this, he was a policy researcher at Lyft. He obtained a PhD in financial economics from the Graduate School of Business at Stanford University.

He studies the links between household finance and urban economics. He is generally interested in how households make savings decisions. He studies how behavioral deviations from benchmark economic models can impact household ability to borrow, save and self-insure against risk.

He is also interested in how urban policy can shape household financial decision making.

Issam Samiri

Professor of Management Practice, Africa Business School

Issam Samiri holds a Master’s degree from École Centrale Paris and a PhD in Economics from the University of London. He has over 15 years of experience in the financial services sector, including roles in investment banks and asset management firms, where he served as a portfolio manager for many years.

Most of his career was based in London before joining UM6P Africa Business School in 2025 as a Professor of Management Practice. He also gained exposure to policy issues through his work at the UK’s National Institute of Economic and Social Research.

His research focuses on macroeconomics, finance, regional economics, and productivity. Combining academic rigour with practical expertise, his work explores the interaction between financial systems and the real economy. His recent research examines the regional implications of aggregate shocks and productivity dynamics.

Mohammed Kharbach

Professor of Practice in Energy Business & Sustainability

Mohammed Kharbach is a Professor of Practice in Energy Business & Sustainability. By training, he is a Mechanical Engineer with an MSc in Energy, Environmental and Mineral Economics and an MSc in Applied Statistics in along with a PhD in Management Sciences.

He worked as a Gas Strategy Advisor with ADNOC, a Commercial Manager with Emirates LNG/Mubadala, Head of gas supply and logistics with Dolphin Energy and a Senior Economist with the power planner in Abu Dhabi.

His main research interests are focused on energy and regulatory economics.

Dr. Mohamed W. Aaminou

Affiliate Professor, Sustainable Business Economics Center

Dr. Mohamed W. Aaminou is an Affiliate Professor at the Sustainable Business Economics Center, Africa Business School, and a Board Member of the Higher Council for Controlling the Finances of Public Endowments.

His research focuses on sustainable finance, carbon markets, and climate-resilient investment systems in emerging economies. Holding a Ph.D. in Applied Mathematics, he has authored several books, chapters, and academic articles published by Routledge, Emerald, and De Gruyter, and contributed research to UNDP, the World Bank, and the Green Climate Fund.

A recipient of the Islamic Development Bank’s Best Agent-Based Simulation Award, Dr. Aaminou combines academic inquiry with two decades of international consulting in sustainable and green finance. He graduated from Duke University and École Mohammadia d’Ingénieurs, and completed executive education at Harvard Kennedy School.

Partners

Academic Institutions

Mines Paris – PSL

Harvard Growth Lab

Toulouse School of Economics

Think-Tanks

Peterson Institute for International Economics (PIIE)

Climate & Company

Tony Blair Institute for Global Change

International Organizations

World Bank

OECD

AFD (French Development Agency)

GGGI (Global Green Growth Institute)

Current Projects / Key Publications / News

Featured Publications

The implications of CBAM for the Moroccan economy

Impact of US countervailing duties on fertilizer and agricultural product prices

Impact of the tariff war and the depreciation of the dollar on the global fertilizer trade and on the margins of OCP Group

White paper on voluntary carbon markets in Morocco (in progress)

News

SBEC organizes the Carbon Markets Forum 2025

Date: April 28, 2025

Location: ABS/UM6P Campus, Rabat

Participants: Representatives from the public, private, academic and civil society sectors (~270 participants)

About the 2025 edition

The Carbon Markets Forum 2025 convened leading national and international stakeholders to drive the structured, transparent, and credible growth of carbon markets in Morocco and Africa. The event contributed to capacity building, knowledge exchange, advocacy, and the creation of strategic partnerships.