The multilateral European Bank for Reconstruction and Development (EBRD) recently agreed to loan up to MAD 220 million (USD 21.5 million) to Banque Marocaine pour le Commerce et l’Industrie (BMCI) in support of the Women in Business (WiB) program, through which EBRD serves women-led micro-, small and medium-sized enterprises (MSMEs)
Search Results for: morocco
MICROCAPITAL BRIEF: Money Transfer Firms Suspend Fees for Payments to Libya, Morocco in Response to Disasters
In order to support recovery from the earthquake that damaged many parts of Morocco on September 8 and the flooding that began in Libya on September 11, several money-transfer firms are offering free international transfers to people affected by the disasters.
UAE-based e& Money, the
MICROCAPITAL BRIEF: Bank of Africa, Sanad Fund Deploying $27m for SME Finance in Morocco
Bank of Africa, which is based in Morocco and serves 32 countries, recently agreed to borrow EUR 25 million (USD 27 million) from the Luxembourg-domiciled Sanad Fund for MSME to on-lend to small and medium-sized enterprises (SMEs) in Morocco. Sanad is supporting the loan with
MICROCAPITAL BRIEF: Banque Centrale Populaire (BCP), Sowit Deliver Agritech to Farmers in Morocco
Morocco’s Banque Centrale Populaire (BCP) recently signed an agreement with Sowit, a provider of agricultural technology (agritech) services, to support farmers in Morocco in increasing their profitability with better data and access to finance. In particular, Sowit will provide farmers in the Béni Mellal-Khénifra region with
MICROCAPITAL BRIEF: EIB Lending CIH Bank of Morocco $73m to Support SMEs, Mid-caps in Adjusting to COVID-19 Pandemic
The European Investment Bank (EIB), an entity of the EU, recently agreed to loan EUR 60 million (USD 73 million) to Crédit Immobilier et Hôtelier (CIH) Bank, which is controlled by the
MICROCAPITAL BRIEF: Mexico, Morocco Report Increases in Remittances Despite Dire Predictions Due to COVID-19 Pandemic
Residents of Mexico and Morocco received more in remittances from family members living abroad during most of 2020 versus 2019. This despite predictions from sources including the World Bank that the COVID-19 pandemic would cause global remittances to decrease 20 percent “due to a fall in the wages and emplo
MICROCAPITAL BRIEF: EBRD Lends $47m to CaixaBank to Support SMEs in Morocco Amidst Coronavirus Pandemic
CaixaBank, a Spanish retail bank, recently accepted a loan of approximately MAD 430 million (USD 46.8 million) from the European Bank for Reconstruction and Development (EBRD), a UK-based development finance institution that has been investing in Morocco since 2012. CaixaBank is to use the funding to
MICROCAPITAL BRIEF: Sanad Fund for MSME Loans $10m to Fondation Arrawaj de la Finance Inclusive of Morocco
The Sanad Fund for MSME, a Luxembourg-domiciled investor in micro-, small and medium-sized enterprises (MSMEs), recently issued a loan of USD 10 million to Fondation Arrawaj de la Finance Inclusive, a Moroccan microfinance institution
MICROCAPITAL BRIEF: EBRD, Green Climate Fund Lend $21.6m to Crédit du Maroc for SMEs in Morocco to Improve Energy Efficiency, Value Chains
Crédit du Maroc, the local member of the France-based Crédit Agricole Group, recently gained access to loan funding of up to EUR 20 million (USD 21.6 million) from the UK-based European Bank for Reconstruction and Development (EBRD) to on-lend to small and medium-sized enterprises (SMEs) in Morocco. EBRD sourced
MICROFINANCE PAPER WRAP-UP: “Young People in Africa: Research Showing Opportunities for Financial Service Providers in Morocco, Nigeria and Senegal,” Published by World Savings Banks Institute
By Lise Paaskesen and Steven Peachey, published by the World Savings Banks Institute (WSBI), October 2019, 45 pages, available at
https://www.wsbi-esbg.org/SiteCollectionDocuments/0587_ESBG_BRO_CENTRALREPORT%20(004).pdf
The Scale2Save initiative of WSBI and the Mastercard Foundation is intended to contribute to improving financial services for people aged 15 to 30 years by examining their access to services, support structures and entrepreneurship opportunities in three rapidly growing African countries – Morocco, Nigeria and Senegal. Part of this work is to
MICROCAPITAL BRIEF: EBRD Loans $16m to Banco Sabadell Casablanca to Increase Lending to SMEs in Morocco
The UK-based European Bank for Reconstruction and Development (EBRD) recently issued a loan of MAD 165 million (USD 16 million) to the local unit of Spain-based Banco Sabadell SA to increase the financing of small and medium-sized enterprises (SMEs) in Morocco. Founded in 2009, Banco Sabadell Casablanca is primarily involved in Morocco’s SME market. The entity earned a profit of EUR 1.2 million (USD 1.4 million) during 2018. As of June 2019, it held total assets of MAD 1.1 billion (USD 110 million).
MICROFINANCE EVENT: International Association of Investors in the Social Economy (INAISE) Conference; November 28 – 30, 2019; Agadir, Morocco
Themed “Social and solidarity finance as a vector of economic transformation in the 21st century” this event will open with a discussion of the impact of the social and solidarity economy on achieving the UN’s Sustainable Development Goals.
MICROCAPITAL BRIEF: World Bank Lending $700m to Morocco to Support “Digital Transformation,” Including MSME Finance, Mobile Payment Systems, Angel Investing
The World Bank recently approved loan funding of EUR 611 million (USD 700 million) for the nation of Morocco with the objective of promoting a “digital transformation.” The project will be implemented through 2024 by the country’s Ministry of Economy and Finance, focusing on three pillars: (1) “enhancing financial inclusion for individuals, and micro, small and medium enterprises,” including access to insurance, agricultural finance and various Islamic financial services; (2) improving digital infrastructure, including measures intended to reduce the cost of mobile payments; and (3) supporting angel investors. One of the program strategies is to fund lenders to expand micro-enterprise lending.
MICROCAPITAL BRIEF: EU Funding Expansion of EBRD Women in Business Programme to Morocco
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral institution, is expanding its Women in Business Programme to Morocco, where it will offer training sessions, networking opportunities and internet-based mentoring for women entrepreneurs in the country.
MICROCAPITAL BRIEF: MicroFinanza Rating Issues 13 Institutional, Social, Client-protection Credentials to Microfinance Institutions in Albania, Morocco, Namibia, Asia, Latin America
During July and August, Italy’s MicroFinanza Rating (MFR) issued five microfinance institutional ratings. Morocco’s Attadamoune Micro-Finance was assigned the grade B+ with a stable outlook. Ecuador’s Fundación Espoir and Albania’s FED Invest both earned grades of BB with stable outlooks. Two institutions earned grades of
MICROCAPITAL BRIEF: With Certification of al Amana, Attawfiq, 64% of Microfinance Clients in Morocco Covered by “Smart” Campaign for Client Protection
Italy’s MicroFinanza Rating recently certified two Moroccan microfinance institutions (MFIs), al Amana and Attawfiq Micro-Finance, as operating within the Smart Campaign’s Client Protection Principles. With a third institution, Tamwil El Fellah (TEF), having received certification in 2016, 64 percent of
MICROFINANCE EVENT: Sanabel Microfinance Network of Arab Countries’ 2016, November 1-2, Casablanca, Morocco
Event Name: Sanabel Microfinance Network of Arab Countries’ 2016 Conference
Event Dates: November 1-2, 2016
Event Location: Casablanca, Morocco
MICROFINANCE EVENT: Social Performance Task Force (SPTF) 2016 Annual Meeting; May 30 – June 2, 2016; Marrakech, Morocco
Event Location: Mogador Palace Agdal, Marrakech, Morocco
Cost: The standard cost to attend this event is USD 225 per participant. Participants who register before March 17, 2016, may enjoy a discounted rate of USD 175.