Société Générale du Maroc Pledges Financial Support to Automotive Industry

Société Générale du Maroc Pledges Financial Support to Automotive Industry

Chaima Lahsini
Société Générale du Maroc Pledges Financial Support to Automotive Industry
Société Générale du Maroc Pledges Financial Support to Automotive Industry

Rabat – Societe Generale du Maroc has signed a agreement to finance automotive ecosystems with the Moroccan Association for Industry and Automotive Trade (AMICA) at a automobile subcontracting fair in Tangier.

This agreement, signed by Moulay Hafid El Alamy, Minister of Industry, Trade, Investment and Digital Economy, Khalid Chami, Chairman of the Board of Directors of Société Générale Maroc and Hakim Abdelmoumen, President of AMICA, allows the bank to support the automotive industry throughout the value chain of financial and banking services dedicated to companies.

For the Minister of Industry, Moulay Hafid Elalamy, “our ambition through the signing of this agreement is to enable the automotive sector to pursue the exceptional dynamics it shows, through financing offers adapted to the actors of the automotive ecosystems.”

Abdelmoumen, for his part, considers that the automotive ecosystems target for 2020 will be far exceeded, “insofar as we aim for a 65% target of local integration.” The head of AMICA believes that the partnership between the Ministry of Trade and Industry, Société Générale and AMICA, “makes it possible to meet, on the one hand, the expectations of the automotive sector by providing the specific adapted financial tools and, on the other hand, by integrating the support measures provided by the ministry in the context of ecosystems.”

Through this agreement,  Société Générale du Maroc says that it is committed to supporting the automotive industry throughout the value chain of financial and banking services dedicated to companies: financing offers in the form of operating loans, investment credits, industry DEVcredits, currency financing, leasing, factoring, long-term leasing of vehicles, cash management solutions and also offers dedicated to the employees of companies in the automotive sector.

Join the Conversation. What do you think?