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.
Faro, the seed capital, development and orientation fund was launched on 27 May 2010 in the context of the Union for the Mediterranean to boost the development of innovation on both sides of the Mediterranean.
With a budget of 1 million euros, the Faro fund enables European entrepreneurs to study the feasibility of innovative projects undertaken in collaboration with partners from the South of the Mediterranean. Each project backed by the Faro is allocated a subsidy of 20,000 euros maximum, to finance up to 50% of the total costs involved in the works.
The subsidy allocated will enable the promoters of small innovative projects to undertake feasibility studies for their partnership project from various points of view: technical, financial, legal, commercial or managerial.
The creation of this fund is an example of the Union for the Mediterranean logic of encouraging the development of SMEs. Launched thanks to the initiative of the "Union for the Mediterranean" interministerial Mission directed by Henri Guaino, the Faro fund associates the French Development Agency (l’Agence française de développement (AFD)) with the “Caisse des Dépôts” (CDC) and OSEO, around three main objectives:
The promoters of projects which have obtained aid from the Faro fund will be invited to become members of the Faro association on a voluntary basis. This association aims at bringing together, within a network of entrepreneurs, the promoters of projects backed by the Fund so as to encourage sponsorship, exchange of experience and the exploitation of innovation.
For more information, please visit http://www.faro-um.org/en/index.php
OCP Innovation Fund For Agriculture, innovation and entrepreneurship in the service of sustainable agriculture
The OCP Innovation Fund for Agriculture is an investment fund designed to promote innovation and entrepreneurship in the agriculture and agro-business sectors.
This Investment Fund is open to any promoter with an innovative project leading to a sustainable and competitive enterprise that generates stable jobs in Morocco. The Fund is rooted in a conviction that innovation and entrepreneurship are key engines of Morocco's economic growth and diversification, and it mobilizes the necessary human and financial resources to support promising projects that can contribute to this growth.
Incubation of supported projects is a core element of the OCP Innovation Fund for Agriculture. The Fund, and its national and international network of experts in relevant fields, will provide strategic, financial and operational guidance and technical assistance to the projects in which it invests.
For further information, please click on the link below : www.ocpgroup.ma/ocpinnovationfund.jsp