A memorandum of understanding to facilitate the access of small and medium-sized enterprises (SMEs) to the capital market was signed on Wednesday in Casablanca between the Casablanca Stock Exchange, the Moroccan Capital Market Authority (AMMC), the Professional Association of Brokerage Companies (APSB) and Maroclear.
Initialed by the President of the AMMC, Nezha Hayat, the President of the Board of Directors of the Casablanca Stock Exchange, Kamal Mokdad, the President of the APSB, Younes Sekkat and the CEO of Maroclear, Fathia Bennis, this protocol of The agreement aims to facilitate SMEs’ access to financing at the level of the alternative market of the Casablanca Stock Exchange.
Integrated and attractive, this offer, the result of long consultation between these institutions, relates, in particular, to reducing the cost of access to the alternative market dedicated to SMEs, by granting a 50% reduction on the commissions of these institutions.
It also involves optimizing market access procedures, in particular through the establishment of a one-stop shop at AMMC level to centralize administrative procedures and the establishment of a training and support for SMEs wishing to raise financing on the capital market.
Speaking on this occasion, Nezha Hayat indicated that the capital market offers several alternative financing solutions that SMEs can use to optimize their financial structures and raise financing on favorable terms.
“However, this category does not make sufficient use of the market,” lamented Nezha Hayat, citing obstacles such as the cost of market access, the complexity of the market access process, or the lack of information on different opportunities.
The memorandum of understanding signed today aims to address these concerns, she said, adding that this SME offer has been designed to be scalable.
Indeed, it will be enriched thanks to the continuous listening to the needs of SMEs and the gradual integration of other stakeholders who can make additional contributions, noted Nezha Hayat.
He added that this offer constitutes a structuring initiative that is consistent with the system put in place for SMEs which make public offerings.
In addition, she reported on the introduction of more appropriate rules with regard to the governance and transparency of SMEs, allowing an adequate balance between flexibility and ease of access to the market on the one hand, and protection of savings. and market integrity on the other hand.
For his part, Kamal Mokdad recalled the preponderant weight of SMEs in the national economy, noting that their competitiveness and sustainability depends mainly on their ability to raise financing for their development.
This agreement which contributes to the revitalization of the capital markets is “further proof of our desire to make our market an effective tool which plays its role in supporting economic dynamics, particularly in the context of economic recovery and the initiation of the new development model, ”he argued.
For her part, Fathia Bennis was delighted with the implementation of this offer “in which everyone will get involved so that the SME can find adequate funding at the stock market”.
In this regard, she called for training programs for SMEs on subjects relating to the capital market, its functioning and its contribution to the company.
Younes Sekkat, for his part, underlined the importance of supporting SMEs through the diversification of funding sources, noting that this offer is able to encourage Moroccan SMEs to finance themselves through the Casablanca Stock Exchange.