Casablanca – Tamwilcom, Morocco’s public financial institution dedicated to facilitating access to financing, reported significant growth in 2024, with its interventions surpassing initial projections. According to data released following its 10th Board of Directors meeting, chaired by Minister of Economy and Finance Nadia Fettah, the institution successfully mobilized more than $4.9 billion in funding across 82,200 operations. This performance marks a substantial contribution to Morocco’s economic landscape, reinforcing Tamwilcom’s pivotal role in supporting businesses, particularly small and medium enterprises (SMEs).
A year of robust growth
The institution’s financial activity exhibited positive momentum, registering a 6% increase compared to 2023, excluding guarantees allocated to public enterprises and institutions. Notably, Tamwilcom exceeded its budgetary objectives for the year, achieving a realization rate of 109%. This growth underscores the effectiveness of its financial mechanisms, particularly in promoting private-sector development.
A key highlight of Tamwilcom’s performance in 2024 was its emphasis on SMEs, which accounted for 94% of its financing interventions. With Morocco’s economy heavily reliant on small businesses, the institution’s targeted support played a crucial role in fostering entrepreneurship and job creation.
Empowering SMEs through credit mobilization
Tamwilcom’s core financial activity revolves around providing guarantees to facilitate business loans, a strategy that has proven highly effective. In 2024, the institution enabled the mobilization of approximately $4.3 billion in credit for SMEs, with total financial commitments reaching $2.4 billion. This represents an 8% increase from the previous year, highlighting the growing confidence in Tamwilcom’s programs.
An important aspect of this initiative was its impact on micro and very small enterprises (VSEs). Nearly 89% of the guarantees issued benefited businesses in this category, demonstrating Tamwilcom’s commitment to supporting grassroots economic activities. By lowering the risk associated with lending to small businesses, the institution facilitated greater access to credit, enabling entrepreneurs to expand and sustain their operations.
Strong growth in participatory financing
In addition to conventional financing mechanisms, Tamwilcom continued to promote participatory (Islamic) finance through its Daama Tamwil window. This segment recorded impressive growth, with a 15% increase in activity compared to 2023.
Through Daama Tamwil, the institution facilitated $70.2 million in participatory bank financing, with total commitments amounting to $39.1 million. This growth reflects the rising demand for alternative financing solutions in Morocco, particularly among businesses and individuals seeking Sharia-compliant financial products.
A testament to financial stability
The strong financial performance of Tamwilcom in 2024 was further highlighted in its financial statements for the year ending December 31. The institution reported a Net Banking Income (NBI) of $83.2 million and a Net Profit of $39.8 million, reinforcing its financial stability and operational efficiency.
The annual report emphasized the institution’s significant contribution to Morocco’s financial ecosystem, not only in terms of direct financing but also in fostering a more inclusive banking sector. By reducing financial barriers and encouraging investment, Tamwilcom continues to play a crucial role in Morocco’s economic development.
Looking ahead
As Tamwilcom looks forward to 2025, the institution remains committed to expanding its support for businesses, particularly in sectors critical to Morocco’s long-term economic resilience. With ongoing economic reforms and increasing demand for financing solutions, Tamwilcom’s role is expected to become even more vital in the years ahead.
The results achieved in 2024 highlight the success of Morocco’s public financing strategy and the efficiency of Tamwilcom’s intervention mechanisms. By continuously adapting to the needs of the business community and leveraging innovative financial solutions, the institution is well-positioned to sustain its growth trajectory and further strengthen the country’s economic framework.
With an unwavering commitment to financial inclusion and private-sector development, Tamwilcom stands as a pillar of Morocco’s economic progress, paving the way for a more dynamic and resilient business environment in the years to come.
