Addis Ababa, September 21, 2011 (MAP) Morocco is a recognized microcredit champion, boasting 40 percent of client outreach in the Arab world and host to some of the best performing microfinance institutions (MFIs) in the world, a Focus note said.According to this note, distributed during the fifth African micro-credit conference (September 19-22) in Addis Ababa, the Moroccan microcredit sector has enjoyed one of the most extraordinary growths seen in the microfinance industry. In this regard, it noted that in just four years (2003-2007), MFI loan portfolios multiplied 11 times and client outreach by four.
In this regard, it noted that in just four years (2003-2007), MFI loan portfolios multiplied 11 times and client outreach by four.
This exuberant growth was driven by four leading MFIs-Zakoura, Al-Amana, Fondation des Banques Populaires, and Fondep, it said, adding that these institutions scored remarkably well on all microfinance performance metrics, including scale, depth of outreach, asset quality, and profitability.
The note said that thanks to these impressive results, Al-Amana and Zakoura were awarded several international prizes (including MIX’s world’s best performing MFI and the European prize for microfinance).