Morocco’s national credit guarantee institution, Tamwilcom, has partnered with International Finance Corportation (IFC) to expand access to finance to small & medium-sized enterprises (SMEs), including women-led businesses, agricultural enterprises, and firms operating within supply chains.
Under the partnership, IFC will provide Tamwilcom $300 million risk-sharing facility (RSF) to enable the Moroccan lending institution to diversify its sources of guarantee capacity and mobilize additional private capital for SMEs.
IFC will also provide advisory services to support Tamwilcom in strengthening its operating model in priority segments, including agriculture, and in developing supply chain finance (SCF) solutions aligned with international best practice, while further integrating environmental, social, and governance (ESG) considerations into its guarantee framework.
SMEs represent around 90 % of Morocco’s economic fabric and play a central role in job creation, innovation, and regional development. As Morocco continues to deepen its financial markets, expanding access to financing solutions that support SME growth remains a priority for sustaining private sector dynamism and competitiveness, including in priority segments such as agriculture, supply chains, and women-led businesses.
Women-owned businesses face financial exclusion at rates higher than the national SME average. Morocco’s $20.4 billion micro, small, and medium-sized enterprise (MSME) financing gap persists not because capital is absent, but because the risk architecture has not kept pace with the need.
“Morocco’s entrepreneurs are creating jobs, strengthening value chains, and building economic resilience in their communities,” said Ethiopis Tafara, IFC’s Vice President for Africa.
“Building on our partnership with Tamwilcom, IFC is mobilizing private capital to reach the farmers, women entrepreneurs, and small businesses driving Morocco’s economic transformation”, he added.
For his part, Tamwilcom’s CEO Said Jabrani said this agreement marks a new milestone in Tamwilcom’s journey toward strengthening its risk management framework to the highest standards”.
Tamwilcom is Morocco’s national credit guarantee institution and one of the longest-established guarantee institutions in Africa, originally established in 1949. In 2025 alone, it issued approximately $2.7 billion in guarantees, enabling an estimated $4.7 billion in financing across more than 70,000 transactions.
