The strategic vision of the sector by 2020 was unveiled at the first international microfinance symposium held in October 2012, reflects the continuation of the support of governments and financial authorities.

By 2022 the sector is expecting to grow by 30% per year to reach 3 million clients and 25 billion MAD (USD 3 billion) portfolio and this growth will require MAD 40 billion ( USD 4.7 billion) financing, plus capacity building for a full integration of this sector in the financial landscape of the country in terms of standards, ratios, risk practices, supervisory bodies.

Morocco’s government plans to use the mechanism of microcredit to create 2 million permanent jobs. The parliament has recently adopted in December 2012, the amendments to the law regulating the sector allowing MFI’s to transform into limited companies and to attract new investors, and the Finance Act 2013 extends the exemption of microfinance clients of VAT until 2016.

Grameen-Jameel and Grameen-Foundation have been supporting the sector in Morocco since 2005 and has facilitated more than US $25.6 million in local currency financing to its MFI partners in Morocco, as well as access to technical assistance and training and Grameen-Jameel will continue to support the sector and the 2020 vision.

Grameen-Jameel took a close look at the Moroccan Microcredit sector crisis, its causes, how the sector reacted and the lessons learned, to learn more about this experience:
http://www.microfinancegateway.org/gm/document-1.9.59979/microcredit-morocco.pdf

Zakia lalaoui
Relationship Manager-North Africa
Grameen-Jameel Microfinance Ltd