Doha – Tamwilcom, Morocco’s financial institution, delivered strong financial results in 2024, mobilizing total financing of MAD 47.5 billion ($4.75 billion) across 82,200 operations, with commitments reaching MAD 28 billion ($2.8 billion).
The organization exceeded its 2024 budget targets by 109%, achieving a 6% year-over-year growth, excluding guarantees for public enterprises. These results emerged from the institution’s 10th board meeting held recently in Rabat.
Private sector companies received 94% of Tamwilcom’s financing support, with a clear focus on micro, small, and medium enterprises (MSMEs).
Through its core generic guarantee activity, Tamwilcom facilitated MAD 41.3 billion ($4.13 billion) in credit for MSMEs, backed by MAD 23.4 billion ($2.34 billion) in commitments, representing an 8% increase from the previous year.
Notably, micro and very small enterprises received 89% of the guarantee activity.
The institution’s Islamic finance window, Daama Tamwil, continued its upward trajectory with 15% growth in 2024, marking another year of double-digit growth.
It covered MAD 681 million ($68.1 million) in participatory bank financing, supported by MAD 379 million ($37.9 million) in commitments.
At its board meeting, chaired by Minister of Economy and Finance Nadia Fettah, Tamwilcom’s financial statements for the year ending December 31, 2024, showed a Net Banking Income of MAD 807 million ($80.7 million) and a Net Profit of MAD 386 million ($38.6 million).
Tamwilcom is a state-owned public financial institution governed by banking law in Morocco.
As the sole state representative for public financing guarantees, it builds on its historical foundation as the Central Guarantee Fund (CCG) to improve financing access for SMEs.
With over 70 years of history since its 1949 establishment, Tamwilcom works alongside financial sector partners to support Moroccan businesses through tailored financing mechanisms.
In 2020, it transformed into a public limited company under Law 36.20, becoming the National Company for Guarantee and Business Financing (SNGFE).
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