First Independent Mena Newspaper
The African Development Bank, AfDB, has made equity investment worth $11 million in Luxemburg-based BluePeak Private Capital Fund to support mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa. The Abidjan-based bank in a statement said BluePeak – a flagship private capital fund – will provide growth capital to middle-sized companies […]
The Sovereign Fund of Egypt (TSFE) and Etisalat Egypt have launched Erada Microfinance to provide access to a wide range of financial services to micro and small enterprises (MSEs). Erada uses financial technology (FinTech) and provides access to a diversified set of innovative financial products for MSEs to expand their businesses, Mubasher.info reports. The partnership, […]
A memorandum of understanding to facilitate the access of small and medium-sized enterprises (SMEs) to the capital market was signed on Wednesday in Casablanca. The MoU between the Casablanca Stock Exchange, the Moroccan Capital Market Authority (AMMC), the Professional Association of Brokerage Companies (APSB) and Maroclear aims to facilitate SMEs’ access to financing at the […]
The Board of Directors of the African Development Bank (AfDB) on Wednesday in Abidjan approved a €120 million loan to Morocco to implement the country’s Financial Inclusion, Entrepreneurship, and the support program to very small & medium enterprises (SMEs). The Bank’s support will enable companies in difficulty to recover their activity and safeguard jobs […]
The African Development Bank, through its Financial Sector Development’s Trade Finance operations, has launched a Transaction Guarantee instrument designed to provide up to 100% cover for non-payment risk to regional and international banks, for trade transactions initiated by local banks in Africa. The guarantee will cover an array of trade finance instruments, including confirmed letters […]
The European Investment Bank (EIB) has provided Moroccan CIH Bank with a €60 million funding destined to support SMEs affected by the global health crisis generated by Covid-19 pandemic. The two financial institutions signed on Wednesday an agreement to support Moroccan companies to stimulate the economic recovery from the impact of the pandemic. The EIB […]
The European investment bank provided Morocco last year with €617 million to support the Kingdom’s response efforts to covid-19, the private sector, SMEs and agricultural sector companies. The European bank has doubled in 2020 its funding to Morocco compared to 2019, said the bank in a press release, noting that it took wide-ranging action under […]
The European Bank for Reconstruction and Development (EBRD) is supporting small businesses in Morocco to withstand the coronavirus pandemic impact with a €40 million loan, approximately 430 million dirham, to CaixaBank’s Morocco branch. The EBRD loan will help CaixaBank to increase much-needed funding for local small and medium-sized enterprises (SMEs) to address companies’ needs. In […]
Morocco’s high commission for planning issued bleak figures on the impact of coronavirus, which pushed 142,000 companies to halt activity, forcing 700,000 to temporary or lasting unemployment. In total, 57% of Moroccan enterprises, mostly small and medium sized have ceased operations. These comprise 135,000 enterprises that closed temporarily and 6,300 that declared bankruptcy, the HCP’s […]
The European Bank for Reconstruction and Development (EBRD) announced on Tuesday a €145 million financing facility to Moroccan Bank of Africa (BMCE Group) to support the country’s coronavirus response. This is the first investment to be delivered under the EBRD’s coronavirus Resilience Framework that was set up to meet the immediate short-term liquidity and working […]