Many Ways to Finance your Project
The establishment of a strong, modern, credible and competitive financial sector meets the desire to ensure a better mobilization of savings and a more efficient allocation of resources, mainly through removing the constraints that the Moroccan banking system was facing, developing the capital market and liberalizing the Treasury financing mode:
The sector has undergone a series of reforms which consist mainly in the improvement of the situation of public financial institutions, the marketing of new products and the modernization the banking legal framework.
For ten years, private equity has provided Moroccan companies with the capital required for their start, their development and transmission. With nearly 100 companies that have received financing from private equity investors for about MAD 2 billion in 2008, private equity clearly plays a significant role in the development of new industries, job creation, economic growth and especially the emergence of entrepreneurs. In Morocco, the figures show that this market has grown considerably since early 2000s. It shifted from MAD 400 million to over MAD 6 billion today. This trend is likely to continue in the coming years given the increasing number of investment funds during the past five years, the country's economic growth and participation of professionals at different stages of business development. Until late 2009, Morocco had 17 operating management companies. Beyond these positive achievements, it is the driving force role of private equity in the Moroccan economy which is now recognized.
What are the criteria relating to stock exchange listing?
Only capital companies are eligible for listing, specifically limited liability companies and limited companies by shares, through inclusion of capital titles to trading in the Casablanca Stock Exchange.
Imitiaz is a direct financial support program designed by the state to prop up projects of high potentialSmall and Medium Enterprisess:
The process is transparent and fast:
SME beneficiaries are selected following a national competition by a public-private committee
For more information about the Imtiaz program, visit the website of the National Agency for the Promotion of SMEs ()
The objective behind Moussanada program is to improve SMEs productivity through an innovative approach allowing the company to select from a predefined list of benefits, those that meet their specific needs. These benefits, which include the integration of new technologies, consist of support:
For more information on the Moussanada program, visit the website of the National Agency for the Promotion of SMEs ()
As part of the Emergence Pact strategy, the state has set up three public/private investment funds: Venture Capital, Capital Development and Capital Transmission.
The objectives of this initiative are to:
To begin operations, the state contributes by MAD 350 million to the creation of these financing instruments, which will present a beneficial asymmetric public/private profitability to private investors. Thus, each of the two funds will be equipped with about MAD 750 million to support companies with strong growth potential and whose turnover does not exceed MAD 100 million.
Attiajriwafa Bank, BMCE Bank and Banque Centrale Populaire have mobilized more than MAD 1 billion to establish an innovative financing instrument, Foncière Emergence, enabling investors wishing to settle in an integrated industrial platform to benefit from an advantageous rental offer.
The Emergence Ground Rent is an investment fund dedicated to industrial real estate and services; it aims at acquiring land bases within integrated industrial platforms, with the aim to give them as rental offer to interested industrial professionals.
In addition to rental managing of property bases made available to industrial professionals, the Emergence Ground Rent provides custom- made development services for rented plots.