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Morocco

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Halima DAKAK
Head of International Desk Morocco

Support by the
Crédit Agricole group

Last updated: September 2021

The Morocco International Desk supports business clients with a comprehensive service, particularly in the following areas: banking and para-banking advice, opening accounts (including MAD, foreign currency, convertible MAD and special markets), setting up financing, exchange regulations and assistance with setting up via its network of partners: getting established in Morocco, local branch, finding premises, recruitment, etc.

Crédit du Maroc also operates in supporting CA group individual clients through opening accounts and providing advice. Crédit Agricole draws on Crédit du Maroc which has been part of the Crédit Agricole Group since 1929. Based on the model of a locally-based global bank Crédit Morocco offers products and services to individual, professional and agricultural clients, as well as to businesses. Today Crédit Agricole holds 78.7% of Crédit Morocco’s capital.

Other of the Group’s business units present in Morocco:

  • Leasing: Crédit du Maroc Leasing
  • Factoring: Crédit du Maroc Factoring
  • Other specialised financial services: Real estate development, Insurance, Trade finance, Stock exchange intermediation, Financial engineering, Capital markets
  • Asset management: Amundi with participation in Wafagestion
  • Consumer lending: CA Consumer Finance with participation in Wafasalaf

Go to the Crédit Agricole Morocco site

For more information, see the list of the Crédit Agricole Group’s locations.

Crédit Agricole Morocco in figures:

  • 683,765 clients
  • 323 Offices
  • 2,488 Partners

Data 31/12/2019 – Source: BPI/FIN

Positioning and organisation of businesses on the market:

Crédit du Maroc (CdM) has historically been orientated towards large multinational businesses, a client base which it still services, particularly in close collaboration with teams from Crédit Agricole CIB. CdM is also developing its operations in the SME and mid-size market, which represents significant growth potential. The business clients are supported by specialised advisors in 10 business centres across Casablanca and the rest of Morocco. A Corporate department is specially dedicated to monitoring key accounts (multinationals and local groups generate more than 500 MMAD from CA). Its Centres of Expertise: Services, Real Estate & Construction, Industry, Agri-Agro, Multinationals.

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Means of payment

With Morocco

SWIFT transfer

Company cheque

Bank cheque

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Common

Weak / None

Weak / None

Common

Common

None

Common

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Advice from the
international desk

General Information

Following years of strong growth, in 2016 the Mozambique economy saw a considerable deceleration.
In the medium term, Mozambique should, however, once again offer numerous business opportunities to French businesses, particularly in the following sectors:

  • Hydrocarbons: giant gas deposits were discovered in the north of Mozambique at the start of the 2010s. The exploitation of these gas reserves, initiated in 2017, should make Mozambique one of the main exporters of natural liquefied gas in the world between today and 2025.
  • Agriculture/forestry/fishing: only 16% of the 36 M ha of arable land is cultivated, although the country has good land and water reserves. The potential for fishing and forestry is also largely under-exploited.
  • Mines: Mozambique harbours significant reserves of carbon, heavy sands (titanium derivatives) and graphite, which are beginning to be exploited on a large scale.
  • Energy: the electrification rate is barely above 30%; several central hydroelectric and thermal projects are currently being developed, as well as solar energy.
  • Transport infrastructure: modernisation projects or the creation of new logistics axes are on the drawing board.
  • Tourism: strong potential (beaches, diving sites, nature reserves), including areas undergoing economic development (Maputo, Tete, Nacala).

The government has just approved a project to revise the commercial code and simplify procedures for registering companies and removing administrative barriers. With these changes the government wants to encourage informal trade towards the Euro, and a formal economy, improve the business environment, attract more national and foreign investments and increase the country’s competitiveness. Despite this initiative, the business environment currently remains difficult.


Means of Payment & Banking Specificities

To secure your payment we strongly recommend the use of a documentary credit confirmed with payment upon demand.

There is an increased risk of payment delays for unsecured transactions, generally due to the lack of strong currencies.

The Metical (Meticais, MZN) is not convertible and is subject to strict foreign exchange control.

The best currencies for billing currency exchanges are the Euro (EUR) and the US dollar (USD).

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