Morocco Plans Major Public Financial Hub to Boost Economic Growth

This future public financial hub would have a total balance sheet of 319 billion dirhams (based on 2020 accounts), making it the fourth player in the sector, reports l’Économiste, adding that the state intends to "put order in the galaxy of public companies and institutions" which globally benefited, in 2020, from more than "36 billion dirhams in transfers from the general budget", while barely "a handful create value".

The newspaper argues that the government will use the future agency for the management of strategic participations to "implement the restructuring operations of the public institutions that are part of its scope of competence, such as the grouping of public institutions, their transformation into public limited companies, mergers and demergers".

The state intends to "enhance the economic and social efficiency of public institutions by correcting their structural dysfunctions and ensuring optimal complementarity and consistency between their respective missions". This has already happened in the audiovisual sector with the rapprochement between SNRT, 2M and Medi1 TV.

Within this future hub, Crédit Agricole will bring its expertise in financing the agricultural world, CIH Bank in real estate and Al Barid Bank in low income banking, while "CDG Capital would bring its expertise in corporate and investment banking," the same source specifies.