A new roadmap for financing companies


OA troika of the Moroccan economy, made up of Bank-Al Maghrib (BAM), the General Business Confederation of Morocco (CGEM) and the Professional Bank Group of Morocco (GPBM) met yesterday. The theme of the meeting was "Financing companies: results and perspectives". This meeting was announced by Abdellatif Jouahri, the wali of Al-Maghrib Bank, on March 19 during the quarterly meeting of the central bank.

Break time

The last such meeting was held on January 26, 2016. At the end of the latter, an action plan was prepared to support corporate financing. Three years later, time is up. The establishment of a TPME observatory was one of the points of the plan of action mentioned above. In this regard, the Moroccan Observatory for Small and Medium Enterprises (OMTPME) held the first meeting of its board of directors on June 13, 2016.

The action plan also included public measures to support SMEs, particularly in terms of investment and support. This point was materialized by a draft decree published on February 6. The text allows cooperatives and self-employed entrepreneurs to participate in public procurement.

The reform of the Regional Investment Centers, which was adopted by the City Council on January 8, was also part of this plan of action, as was the adoption of a financing solution for credit credits with VAT, January 2018. A mechanism extended to public enterprises under the Finance Act of 2019. Finally, an observatory on payment deadlines was also envisaged. This has been done since December 2017 and the publication in the Official Bulletin of the decree establishing this body.

New script

Taking into account the balance sheet, the troika decided in the next action plan to strengthen the support mechanisms and proximity of the companies created by the banks and to develop financing methods, such as factoring, for late payment restrictions.

It is also a matter of operationalizing the law and the observatory on payment terms, working more to improve the bank-client relationship and promoting an approximation between banks and sectoral federations.

The troika also plans, in its new roadmap, to implement the levers of the national strategy for financial inclusion. Particular attention will be given to those targeting micro and micro enterprises, in particular by accelerating the development of alternative models such as microfinance and crowdfunding.

The new plan also calls for removing obstacles to the development of non-brokered financing, particularly through the stock market, private debt and venture capital investment.

To encourage the national productive system, it was also decided to adopt: "a coordinated and unifying approach to the promotion, information, support, support and financial support of the TPME, especially developed by Maroc PME, CGC and IRCs.".

It was also agreed to strengthen the system of specific support and financing for the creation of enterprises in general and innovation in particular. Finally, the BAM-CGEM-GPBM Troika is committed to promoting a favorable business environment in terms of tax, administrative and judicial procedures.


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