Tamwilcom plays a vital role in supporting the growth and financing of Moroccan companies. Through its various programs and initiatives, the institution has succeeded in improving access to financing, promoting innovation and supporting regional development.
Tamwilcom, formerly known as the Central Guarantee Fund (CCG), is a public institution dedicated to supporting and financing businesses. Since its creation, it has played a crucial role in Morocco’s economic development by supporting small and medium-sized enterprises (SMEs), startups and large companies through various financial mechanisms.
Indeed, the institution has implemented several actions to stimulate the growth and financing of national companies. In 2023, it achieved remarkable performances with the mobilization of 54.1 billion dirhams (MMDH) in favor of companies and individuals, which represents an increase of 14% compared to the previous year. The institution’s total commitments reached 35.1 MMDH, up from 31 MMDH in 2022. Tamwilcom’s activity is mainly oriented towards supporting the financing of companies, with 94% of interventions concentrated on this segment.
In 2023, commitments to support businesses enabled the mobilization of MAD 50.8 billion in credits. The generic guarantee in favor of very small, small and medium-sized enterprises (SMEs) was particularly effective, with 39 billion dirhams of credits mobilized, covered by guarantees of 21.7 billion dirhams, an increase of 13% compared to the year. former.
This guarantee mainly benefited micro and very small enterprises, thus confirming Tamwilcom’s commitment to this priority target. The activity of the participatory window “Daama Tamwil” also experienced a significant growth of 72% in 2023, covering 566 million dirhams (MDH) of participatory bank financing for a volume of commitments of 341 MDH.
The mission of Tamwilcom
Remember that Tamwilcom was created to respond to a pressing need: to facilitate access to financing for Moroccan companies, particularly SMEs, which represent a significant part of the country’s economic fabric. Its mission is structured around several key axes: improving access to financing, promoting innovation and entrepreneurship, supporting regional development, and encouraging investment in strategic sectors.
These objectives are supported by various financing programs and initiatives, notably the Innov Invest Fund (FII). This fund, one of Tamwilcom’s flagship initiatives, aims to support startups and innovative projects. This is a program that provides funds in the form of venture capital, honorary loans and guarantees for venture capitalists. The FII has helped create an ecosystem favorable to innovation and job creation, by facilitating access to financing for young technological companies. Fogarim is another important Tamwilcom program, aimed at guaranteeing bank loans granted to SMEs. By providing partial guarantees, Tamwilcom reduces the risk for banks, thereby encouraging them to extend loans to beneficiaries who otherwise would not have had access to credit. This program has significantly contributed to increasing the number of SMEs financed, promoting their growth and development.
In response to the economic crisis caused by the Covid-19 pandemic, Tamwilcom launched the Damane Relance program. This mechanism aimed to support companies affected by the crisis by providing them with guarantees for cash flow loans. It has enabled many companies to overcome their financial difficulties, preserve jobs and restart their activities. The FATPE targets very small enterprises (VSEs) which are often excluded from traditional financial circuits. This fund offers guarantees for microcredits and loans adapted to the specific needs of VSEs, thus contributing to financial inclusion and local economic development.
Impact on economic development
Thanks to various financing and guarantee programs, Tamwilcom has contributed to the substantial growth of Moroccan SMEs. Facilitated access to credit has enabled these companies to invest in new technologies, increase their production capacities and create new jobs. By supporting SMEs, Tamwilcom plays an indirect but crucial role in reducing unemployment and improving the living conditions of Moroccans. Initiatives like the Innov Invest Fund have stimulated innovation and entrepreneurship in Morocco. By offering financial support to startups, Tamwilcom encourages young entrepreneurs to develop innovative solutions to local and global challenges.
This dynamic contributes to the diversification of the national economy and its adaptation to the demands of the global market. Tamwilcom places particular emphasis on regional development by supporting economic projects in rural and less developed areas. Guarantee and targeted financing programs allow businesses located in these regions to access credit and contribute to local economic development. This strategy helps reduce regional disparities and promote more balanced economic development across the country.
Challenges and future prospects
Despite the progress made, access to finance remains a challenge for many Moroccan businesses. Tamwilcom continues to innovate and adapt its financial products to meet the evolving needs of the market. The development of new financial instruments, such as fintech and crowdfunding platforms, could offer additional solutions to improve access to finance.
To maximize the impact of its initiatives, Tamwilcom collaborates closely with other stakeholders in the entrepreneurial ecosystem, including incubators, accelerators, academic institutions and private investors. These partnerships are likely to create a more conducive environment for innovation and business growth. Risk management is crucial to ensure the sustainability of Tamwilcom’s guarantee and financing programs. The institution continues to evaluate and improve its risk management processes to minimize payment defaults and ensure the sustainability of its initiatives.
At the same time, diversifying funding sources and improving operational efficiency will be essential to maintain financial viability. Note that Tamwilcom plans to continue this dynamic with a commitment level of 30.6 billion dirhams in 2024, in line with its 2023-2026 strategic plan, aiming to further support SMEs and encourage crowdfunding.
Sanae Raqui / ECO Inspirations
