Rabat — Morocco’s central bank, Bank Al Maghrib (BAM), revealed that 87% of industrial companies consider access to bank financing “normal,” while 11% view it as “difficult” during the third quarter of 2025.
The central bank’s quarterly survey results for Q3 2025 showed significant variations across different industrial sectors. The food industry sector leads with the easiest access to financing — 94% of companies reported normal access, while only 6% found it difficult.
The mechanics and metallurgy sector follows closely, with 87% of companies experiencing normal access and 13% facing difficulties, according to the report. In the chemicals and para-chemicals sector, 82% reported normal access compared to 11% who struggled.
The textile and leather industry faces the biggest challenges. Only 67% of companies in this sector find bank financing accessible, while 33% consider it difficult — the highest rate among all industrial sectors.
Credit costs remain stable
BAM reported that credit costs stayed stable across most sectors, with one notable exception. In the textile and leather industry, 79% percent of companies noted stable costs, but 13% experienced increases.
Investment costs also remained steady according to industrial operators. However, the food industry sector saw costs rise, while the chemicals and textile sectors experienced declines. The mechanics and metallurgy sector maintained stable investment costs.
Meanwhile, the report indicated that industrial companies rely heavily on their own resources to fund investments. Self-financing accounts for 74% of investment expenditures, while bank credit covers the remaining 26%.
Future investment plans
Looking ahead to the next three months, BAM’s report said that 58% of industrial operators expect their investment spending to remain stable, while 26% anticipate increases.
Sector-by-sector projections show most industries expect rising investment expenditures, except for the chemicals and para-chemicals sector, where operators predict a decline.
The survey provides insight into Morocco’s industrial financing landscape, showing that while most companies access bank credit without major obstacles, certain sectors — particularly textiles and leather — continue to face significant challenges.
