BVC and CGC sign Memorandum of Understanding for SMEs

FINANCING – On October 15, 2019, the Casablanca Stock Exchange (BVC) and the Central Guarantee Fund (CGC) signed a Memorandum of Understanding (MoU) signaling their common will to consolidate their partnership in favor of SME access to capital market.

Signed by BVC Director General Karim Hajji and CGC CEO Hicham Zanati Serghini on the sidelines of a meeting organized by both parties under the theme "Improving SME Governance for Better Access This agreement aims to strengthen the financing offer targeted at SMEs and to contribute to the development of the capital market, according to a joint statement.

The agreement aims to improve the access of Elite winners to the various mechanisms of the CGC as part of its new product offering, says the same source.

"Our partnership with the CGC is one more step that brings ELITE Morocco's certified companies closer to financing through the capital market. Thanks to the efforts of the Casablanca Stock Exchange and the CGC, our SMEs will be able to finance their development and therefore contribute to building a strong economic fabric, "said Hajji.

This meeting introduced "Elite" certified companies to good governance practices as a major lever for access to finance. On this occasion, the CGC highlighted the redesign of its offer made in February 2019 and which provides, among other things, a doubling of ceilings for industrial companies, exporters and green economy having demonstrated their good governance.

Launched by the BVC in 2016, the "Elite" program allows business leaders to benefit from training aimed at familiarizing them with the practices and fundamentals of financial operations and with dedicated support to connect them with the ecosystem. for better access to finance, notably through the capital market.

In 2018, the Casablanca Stock Exchange, Abidjan Regional Stock Exchange and London Stock Exchange Group have implemented "Elite BRVM Lounge" for West African companies.

Currently, Elite Morocco and Elite BRVM Lounge have a total of more than 110 companies, a dozen investors and nearly 25 partners.