The House of Representatives adopted, at second reading and unanimously, on Wednesday, February 10, 2021, draft law No. 15-18 on crowdfunding, in the presence of Mr. Mohamed BENCHAABOUN, Minister of Economy, Finance and Administration Reform.
known internationally as "Crowdfunding," is a method of financing
projects by the public. It raises funds, usually small, from a wide audience,
mainly to finance youth entrepreneurship and innovation. This new mode of
financing operates through internet platforms allowing the direct and
transparent linking of project owners and contributors. These activities take
three forms of funding: loan, capital investment and gift.
establishment of a legal framework, through Law No. 15-18 governing
collaborative financing activities, is part of the efforts of the Public
Authorities to strengthen the financial inclusion of young project owners,
support for economic and social development and the channeling of collective
savings towards new opportunities. This legal framework should help to mobilize
new sources of funding for very small, small and medium-sized enterprises and young
people with innovative projects. It should also allow potential donors to
participate actively in the country's development projects through a simple,
secure, and transparent financing mechanism.
This new legal
framework establishes a complete regulatory system for collaborative financing
activities. To this end, it includes in particular: the creation of the status
of manager of collaborative financing platforms (CFP), the definition of the
accreditation system for Collaborative Financing Companies (CFC), the
definition of procedures and terms of creation and operation of the CFPs and
the definition of the commitments and obligations of the CFC in terms of public
information, publicity and reporting.