31st meeting of the Executive Board Of Caisse Centrale de Garantie
Mr. Mohammed BOUSSAID, Minister of Economy and Finance, chaired the 31st meeting of the Executive Board of Caisse Centrale de Garantie (CCG) on July 28, 2017 in Rabat. This meeting was dedicated to the examination of the activity during the period of 2013-2016, as well as to the setting of the objectives and strategic orientations of CCG in the framework of its new 2017-2021development plan.
Mr. BOUSSAID opened the meeting by reaffirming the State's commitment to support Very Small, Small and Medium-Sized Enterprises and innovative Startups considering their potential in creating wealth and boosting the economy. He recalled in this context the implementation, by CCG, of a number of measures to support this category of enterprises, notably through the instruments of bank loans guarantees that cover the different needs both in investment and operating, as well as joint financing solutions between CCG and the banking sector. He also recalled the importance of supporting seed financing of startups and innovation through the launch of the "INNOV INVEST FUND”, destined to ensure a continuum of financing for project holders from the stage of idea until the growth.
Mr. BOUSSAID highlighted the important momentum of CCG during the period between 2013-2016 due to the success of its development plan, both in terms of its objectives achievements’ rates and the impact on the institution and its environment.
He pointed that this performance is the result of a strong growth in the activity destined to enterprises, and the permanent efforts to reinforce access to social housing financing.
The Minister announced the launch of a new strategic development plan for the 2017-2021 period, which will enable CCG to play a more proactive role and anticipate the financing needs of VSMEs and startups. On this occasion, he called on banks, economic operators and startups to commit themselves and be mobilized more to take advantage of these financing opportunities in order to consolidate the productivity and competitiveness of the national economy.
Invited to present the items on the agenda, Mr. Hicham Zanati Serghini, General Director of CCG, outlined the achievements of the 2013-2016 strategic Development Plan by highlighting the achieved positive results. He noted that during this period, guaranteed and co-financed loans as well as the number of financed VSMEs reached, respectively, 39 billion DH and 18.000 VSMEs, doubling thus the objectives initially set. As for the "Individuals" activity, it managed to stay the course and reach the objectives set, that is, 22 billion dirhams of guaranteed loans and 112,000 beneficiary households.
He also noted that concerning the qualitative achievements, CCG has succeeded in strengthening its positioning in the Moroccan financial landscape, developing its products offer and modernizing its processes, steering and operational management tools.
Mr. SERGHINI then presented the strategic focus areas of the new 2017-2021 development plan, focusing in particular on the consolidation and development of the current products offer as well as the identification of new axes of development in order to encourage financial inclusion and to facilitate VSMEs’ access to financing. This plan also provides for the pursuit of the institution’s process of modernization.
He also pointed out that the overall production expected by 2021 will be driven by the good dynamics of the guarantee activity in favor of VSMEs, which represent its main engine.
The Board of Directors, which welcomed these positive achievements, subsequently approved the 2017-2021 development plan, its production objectives and the budget for 2017.