Rabat - In 2016, the total activity of Morocco’s Central Guarantee Fund (CCg), both for businesses and private individuals, totaled MAD 21 billion of mobilized loans, an increase of 23% compared to 2015.
Rabat – In 2016, the total activity of Morocco’s Central Guarantee Fund (CCg), both for businesses and private individuals, totaled MAD 21 billion of mobilized loans, an increase of 23% compared to 2015.
Small and medium businesses (TPME) totalled 7,290 and more than 22,800 individuals benefited from these credits, mobilized thanks to the intervention of the CCG.
According to the report published on the CCG website, activity in favor of TPME was still on rise. At the end of 2016 a volume of secured and granted loans totalled more than MAD 16 billion, an increase of 40%.
On the same note, the CCG’s credit guarantee to TMPE continued to grow significantly, with an annual growth of 41% in 2016, and a guarantee credit volume of MAD 14.4 billion. The volume of guarantees granted amounted to MAD 7.7 billion.
Investment loans for financing the creation, development and transmission of TMPE totaled MAD 3 billion, an increase of 36% compared to 2015.
According to the CCG, these credits generated a MAD 4.9 billion investment and helped create more than 15,500 jobs.
The Operating Credits business, which is dedicated to financing the operating needs of the TMPE by disbursement and signature, recorded a volume of MAD 10 billion, registering an increase of 49% compared to 2015.
For their part, loans for very small businesses (TPE), such as Damane Express, Ilayki and Mouwakaba, whose business totaled MAD 1.4 billion, is up by 49% compared to the end of 2015.
The CCG noted that the main sectors covered by the CCG Guarantee for 2016 are industry (28%), trade and distribution (27%) and construction (23%).
In terms of the breakdown of guarantee commitments by banks, BMCE Bank leads by 33% followed by Banques Populaires with 28% and Attijariwafa bank with 19%.
