Rédaction Africa Links 24 with alm
Published on 2024-03-11 09:20:23
This device aims to facilitate the financing of investment projects for Moroccan companies, in partnership with the Mohammed VI Investment Fund (FM6I) and Tamwilcom.
Attijariwafa Bank is launching a personalized device for financing investment projects in Morocco. Called “Attijari CapAccess,” this device aims to facilitate the financing of investment projects for Moroccan companies, in partnership with the Mohammed VI Investment Fund (FM6I) and Tamwilcom. Its launch was announced during a meeting organized at the regional headquarters of Attijariwafa Bank in Rabat in the presence of Mohamed El Kettani, CEO of the Attijariwafa Bank group, Mohamed Benchaaboun, CEO of the Mohammed VI Investment Fund, and Hicham Serghini Zanati, CEO of Tamwilcom. Speaking on this, Mohamed Benchaaboun stated that “this meeting helps to multiply opportunities to be in contact and listen to the issues of the market and to meet Moroccan companies.” He also stressed that access to capital remains the cornerstone of the challenges facing Moroccan companies. According to Mr. Benchaaboun, through CapAccess, the new subordinated debt product launched by the Mohammed VI Investment Fund, the objectives are mainly focused on accelerating the pace of investments for Moroccan companies by providing an additional financing solution for companies that do not wish or are not yet ready to open up their capital. It also aims to ensure that viable investment projects can be realized despite a low contribution of equity from the company, as well as to strengthen and complement the action of the banking system. It should be noted that this launch follows the signing, on March 5, 2024, of an agreement between the Mohammed VI Investment Fund, Tamwilcom, and Moroccan banks, thereby reinforcing their common commitment to economic development by providing financial solutions tailored to the needs of Moroccan companies. As a reminder, CapAccess is a subordinated debt product backed by bank debt, specifically dedicated to financing investment projects, with the objective of accelerating investments while reducing the pressure related to equity contributions. Additionally, it offers the possibility of being combined with other state support programs, thereby enhancing its impact on growth and economic recovery. This is a joint credit, combining subordinated debt (Junior credit) up to a maximum of 1/3 and amortizable bank credit (Senior credit) up to a minimum of 2/3 of the total financing.
Read the original article(French) on Aujourdhui.ma
