On Thursday in Rabat, a significant step was taken for Morocco's economic landscape as key players came together to sign the Charter on the Financing and Support of Very Small Enterprises (VSEs). The agreement was endorsed by the Ministry of Economy and Finance, the Ministry of Investment, Convergence, and Evaluation of Public Policies, Bank Al-Maghrib, Tamwilcom, Maroc PME, the Professional Group of Moroccan Banks (GPBM), the National Federation of Microcredit Associations (FNAM), and the General Confederation of Moroccan Enterprises (CGEM). During the signing ceremony, Abdellatif Jouahri, Governor of Bank Al-Maghrib, highlighted the urgent need for the financial sector to respond to the royal directive aimed at reducing regional disparities in Morocco. He pointed out that the cash circulation rate stands at 28% of the gross domestic product (GDP), marking it as one of the highest globally. Jouahri also discussed the ongoing financial inclusion strategy, which seeks to ensure every municipality in Morocco has at least one financial service access point. Mohamed El Kettani, Vice-President of the GPBM, commended the efforts of the Central Bank and other institutions actively promoting VSEs. He stated, «This involves processing several tens of thousands of small credit applications monthly. We need to industrialize the process, and it's artificial intelligence that will make this possible». Youssef El Alaoui, President of the CGEM group in the Chamber of Advisors, emphasized that 90% of CGEM members are SMEs or VSEs. «The potential is there. If we can improve access to financing and strengthen the capacities of entrepreneurs, we will place these VSEs on paths of growth and job creation», he asserted. Said Jabrani, Director General of Tamwilcom, underscored his institution's pivotal role in aiding the financial sector to improve business access to funding. «In 2024, we contributed to the mobilization of 41 billion dirhams (MMDH) in financing, 89% of which was allocated to VSEs», he noted. This Charter aligns with the broader Investment Charter, which introduces new support mechanisms for business investments, particularly targeting very small, small, and medium-sized enterprises (TPMEs). The Charter's objectives also include dismantling obstacles to the growth of these enterprises and fostering more inclusive and balanced development throughout the nation.
