On Tuesday March 22, Mrs Nadia FETTAH, Minister of Economy and Finance, chaired the 3rd meeting of the Board of Directors of the National Guarantee and Financing Enterprise Company (SNGFE), bearing the brand name TAMWILCOM. This meeting was mainly devoted to the examination of the management report and the closing of the accounts for the financial year 2021.
At the opening of this meeting, the Minister recalled the current economic context, marked by a gradual recovery from the aftermath of the Covid-19 pandemic. In this regard, she underlined the commitment of TAMWILCOM alongside credit institutions and other actors, for the support of Moroccan companies as well as for the accompaniment of the strategies of public authorities in terms of financing the national productive fabric.
Mrs. FETTAH also welcomed the positive results recorded by TAMWILCOM during the year 2021. "A growth which testifies to the dynamics and the reactivity of the institution as well as to the relevance of its offer-products adapted to the financing needs expressed by the Moroccan companies", she declared.
All the commitments granted by TAMWILCOM (except specific products set up during the Covid-19 crisis) in favor of companies as well as private individuals have thus pursued an upward trend during the financial year 2021, reaching 24.9 billion DH, i.e. an increase of 35% compared to the previous financial year. This increasing allowed the mobilization of a credit volume of 43.7 billion DH.
During this fiscal year, the Company's actions for firms mainly benefited the trade-distribution sector (30%), followed, ex-aequo at 23%, by industry and construction.
We should also note the remarkable jump in TAMWILCOM's interventions in terms of the number of business financing operations that totaled more than 65,400, with a significant increase of 90% compared to 2020. These actions have mainly concerned the financing of the operating cycle, financial inclusion of the VSE and investment with a number of operations of 20,950, 19,100 and 15,660 respectively. The year 2021 was characterized by a strong involvement of TAMWILCOM to boost the financing of business creation with 9,700 actions. The innovation-financing segment was not left behind, with 168 startups financed in 2021 under the Innov Invest Fund (IFI).
Finally, it should be noted that the work of the Board of Directors has also highlighted the measures recently implemented to support the financing of companies in order to mitigate the effects of the crisis on their cash flow. These steps concern the raising of the guarantee ceilings of the "Damane Atassyir" and "Damane Istitmar" products and the rescheduling of the credits covered by the "Damane Oxygène" and "Damane Relance" guarantee for an additional period of up to three years
INTELAKA : Achievements in line with objectives
Good performance also for the intervention mechanisms of the integrated program INTELAKA. Launched in February 2020 under the High Royal Instructions. The INTELAKA program is designed to facilitate access to financing for young project holders, self-entrepreneurs and VSEs in both urban and rural areas.
During the fiscal year 2021, 22,875 credits were granted, for a volume of commitments of more than 3.8 billion DH, marking an increase of 22% compared to 2020. All regions of the Kingdom have benefited from the "INTELAKA" program. The region of Casablanca-Settat is in the lead with more than 26% of the volume of guaranteed credits, followed by the regions of Rabat-Salé-Kénitra (15%) and Marrakech-Safi (12%).