Morocco Holds 70% of Businesses Created in Maghreb Countries in 2021

Morocco is home to 70% of new businesses created within Maghreb countries during 2021, while 7% are in Tunisia and 13% are in Algeria.

Rabat – Morocco is home to 70% of new businesses created within Maghreb countries during 2021, while 7% are in Tunisia and 13% are in Algeria.

Morocco’s business landscape continued to flourish in 2021, with a significant 52% growth rate in business creation between 2018 and 2021, according to the consulting firm, Inforisk.

The median capital of Moroccan businesses created in 2021 is MAD 100,000. Inforisk’s data indicates that 99.48% of businesses opt for the SARL/EURL legal framework.

Echoing the trend of business creation, brand creations in Morocco also concluded on a positive note in 2021. Morocco’s Office of Industrial and Commercial Property (OMPIC) declared it had received over 14,000 brand patent applications.

In recent years, Morocco ramped up efforts to support business initiatives as part of Morocco’s 2021 New Development Model (NDM) strategy paving the way for equitable socio-economic development.

The model especially underscores the importance of enhancing the country’s business climate, with youth-driven initiatives as key to curbing unemployment.

In an attempt to implement the body of reforms within the NDM, Moroccan banks tailor-made special funding programs with interest rates as low as 2% for young business makers. Some banks also offer legal and technical counseling.

Morocco’s largest banking group, Attijariwafa Bank, declared it had accorded over MAD 2.7 billion ($284.6 million) to young Moroccan business-makers during 2021.

Over the same period, Attijariwafa Bank issued loans to over 51,600 Moroccan businesses within the Damane Oxygen Program, a COVID-19 relief fund program aiming to support businesses in overcoming pandemic-related challenges.