Banks

BMCI, the bank for entrepreneurs

A player in financing the economy and promoting entrepreneurship in Morocco, the Moroccan Bank for Trade and Industry (BMCI) is firmly in line with the government’s dynamic aimed at promoting entrepreneurship in the Kingdom. The subsidiary of the BNP Paribas group is constantly innovating in favor of “young shoots”, with tailor-made services thus guaranteeing them rapid and sustainable growth.

Very small businesses (TPE), which employ less than 5 employees and achieve a turnover of less than 3 million dirhams (MDH), constitute an important fringe of the entrepreneurial fabric. Unfortunately, they constitute the privileged target of the phenomenon of business bankruptcies in Morocco, which also affects SMEs, AE, auto-entrepreneurs and economic interest groups.

It is estimated that no less than 10,556 companies have definitively lowered the curtain in 2021, an annual increase of 59%. The causes are many. If covid-19 has been there, some bankruptcies are the result of causes intrinsic to the company. Many more or less young structures disappear, in fact, each year due to serious financial difficulties of a managerial nature. It is even more dramatic than in Morocco, less than 5% of young shoots are accompanied or supported by mentors.

Given this observation and the increasingly pronounced appetite of Moroccans for entrepreneurship, banks as well as investment and guarantee funds are competing for offers to support young shoots. And if there is one player that has distinguished itself in this field in Morocco, it is BMCI. A player in financing the economy and promoting entrepreneurship in Morocco, the subsidiary of the BNP Paribas group is resolutely part of the government’s dynamic aimed at promoting entrepreneurship in the Kingdom, as confirmed by Said Jabrani, director of the Retail Business line at BMCI.

“As part of its commitment to supporting entrepreneurs and project leaders, BMCI has launched several initiatives in recent years”, he explains before adding that “We are now working at the level of the cluster of the French Chamber of Commerce as a financial partner with the aim of identifying promising projects in Morocco and supporting them.”

BMCI has also distinguished itself on another entrepreneurial aspect, in particular within the framework of the implementation of the measures decided by the Economic Watch Committee (CVE), aimed at mitigating the effects of the crisis induced by the Covid -19 and its impacts on businesses. As part of the Damane program, a new guarantee mechanism put in place by the government at the height of the crisis, BMCI has not been outdone by offering tailor-made products to companies and business leaders.

The bank was also present at the launch of the Intilaka program aimed at supporting and financing job creation initiatives by listening attentively to young graduates/qualified project leaders, auto-entrepreneurs registered in the national register. , individual entrepreneurs natural persons who do not have the status of auto-entrepreneurs, very small businesses including traders, individual artisan farmers and farmers, individual entrepreneurs and VSEs in the rural world, very small exporting businesses, start-ups , cooperatives, in short, all the targets of the government program and royal orientations.

Furthermore, in line with its Positive Banking engagement strategy, and in line with its desire to contribute to sustainable and responsible development in Morocco, BMCI, which launched the #1MillionHours2Help program in May 2021 -allowing its employees to get involved with associations, during their working hours, to build together a more committed and united world – provides useful and practical advice to young entrepreneurs in order to equip them with the tools necessary for good financial management of relations with the banks. “What a young entrepreneur needs is above all a fund but also and above all financial advice adapted to his project in order to be able to manage his relations with the banks”, explains Jabrani.

Taking this need into account, the bank recently opened an entrepreneur center in Casablanca where it offers a personalized advisory approach for better support, both financial and non-financial. Through this initiative, BMCI offers entrepreneurs/professionals classic services and products as well as its expertise in areas such as leasing and factoring.

The entrepreneur’s house also aims to simplify procedures, while allowing entrepreneurs to quickly get started on the market.

Said Jabrani
Director of the retail business line at BMCI

“The BMCI has always been present at all the meetings within the framework of the promotion of entrepreneurship in Morocco. For the needs of the Damane product, for example, all the banks have supported a total of 45,000 entrepreneurs across the Kingdom. BMCI has played its systemic role by supporting companies corresponding to its market share. Regarding the Intelaka program, we have also assisted hundreds of entrepreneurs.”

Khadim Mbaye / ECO Inspirations

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