Official launch of "Women in Business": female entrepreneurship in Morocco promoted by the EBRD

Official launch of

"Women in business" aims to promote the entrepreneurship of women by offering women working there the necessary tools for the success of their projects. EBRD support varies from access to finance to management advice and helps female entrepreneurs acquire skills, knowledge and resources.

Since 2014, 35,000 women entrepreneurs in the world have benefited from the support of the EBRD. In the same way, EUR 450 million is currently being provided by the European financial institution for SMEs, managed by women in almost 17 countries, in collaboration with some thirty local banks. These figures will increase further as the European Bank for Reconstruction and Development (EBRD) continues to expand the coverage of its international support program for female entrepreneurs.

Morocco becomes a member of the countries where this device is used. This Tuesday 18 September 2018 marks the official start of the "Women in business" program in the Kingdom. Launched with the support of European Union funds as part of its financial inclusion initiative. The aim is to strengthen the economies of the EBRD's work areas by supporting women entrepreneurs whose ambitions are often thwarted by lack of access to finance and commercial training. "The Women in Business program can have a very positive impact in Morocco, with only 50% of formal enterprises run by women using a bank account and they often can not benefit from the full range of bank offers»says the European bank, which initially worked with two local banks to implement the program. These are BMCE Bank of Africa and BMCI. Both banks will have to create financial products that meet the needs of SMEs run by women.

The "Women in Business" program is designed to promote women's entrepreneurship and to provide women who work there with the necessary tools for the success of their projects. EBRD support varies from access to finance to management advice, allowing female entrepreneurs to acquire the skills, knowledge and resources they need.

"The bank facilitates access to finance by offering lines of credit to local banks dealing with women-managed SMEs, as well as advice on competitiveness, as well as training and a mentoring program that allows female entrepreneurs to share their experiences and share their knowledge.", we learn from the EBRD.

Like the previous beneficiaries, Moroccan female entrepreneurs receive management advice, training, mentoring and networking assistance.

In addition, there is also access to the online self-diagnosis service "Business Lens". This free platform offers women a personalized self-evaluation while emphasizing the strengths and opportunities of their business. It also associates them with the activities proposed in the framework of the Women in Business program and the financial partner institutions.

The EBRD and its partners will be in the same direction a special effort to support female entrepreneurs outside the large Moroccan economic centers. Remember that the first operations of the EBRD in Morocco date from 2012. Since that date the financial institution has financed 1.6 billion euros in kingdom projects.

The actions of the EBRD focus more on realizing the entrepreneurial potential of Morocco, promoting regional economic development and integration of women, supporting sustainability and improving the efficiency and quality of infrastructure, as well as promoting the development of capital markets. by expanding the range of financial instruments and creating innovative financial solutions.

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