Rabat – Credit Agricole Banking Group (GCAM) launched yesterday in Rabat a funding program dedicated to young business makers in rural areas.
The program, named “Dar Al Moustatmir Al Qaraoui,” is dedicated to financing young entrepreneurs aspiring to bring change to their local communities.
The banking group emphasized that the services of the fund are available for business makers free GCAM clients or not free of charge.
GCAM said that the program provides multiple services, ranging from technical and legal counselling to financing plans, and it is dedicated to agriculture and non-agriculture businesses ventures in rural and urban areas.
The central aim of the program is to guide young business makers through the multiple steps necessary to launch their businesses successfully, and to introduce young entrepreneurs to the state support programs for which they are eligible.
GCAM pledged to also assist business makers after launching the program, providing the necessary training business makers need to successfully manage their businesses.
The funding program was announced during a conference organised by GCAM and the Minister of Agriculture, Fisheries, Rural Development and Water and Forests.
“Dar Al Moustatmir Al Qaraoui” is in line with Morocco’s New Development Model, a holistic vision serving as a framework for future development programs.
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The model, which comprises a list of recommendations by Morocco’s Higher Commission of Planning (HCP), emphasizes the importance of Morocco’s human capital as the cornerstone for the country’s future development.
One of the main recommendations in the recently completed report on the New Development Model is the urgency of encouraging innovative business initiatives and providing proper guidance to young business makers in Morocco.
According to the report, investing in youth empowerment is essential for Morocco as it will eventually result in creating jobs and uplifting economic hardships on marginalized regions in the North African country.
GCAM’s financing program is not the first of its kind. In recent years, Moroccan banks have all provided low-interest funding programs for entrepreneurs with additional guiding services to ensure their successful launch into the business world.
