Bank of Africa Launches SME Pact to Boost Business Growth

Faced with the persistent challenges of financing, competitiveness, and structuring for micro, small, and medium-sized enterprises (MSMEs), Bank of Africa is taking a new step in supporting the national entrepreneurial ecosystem.

Through an integrated offering, the bank aims to move beyond the traditional approach of credit to provide a more comprehensive solution, combining financing, advice, expertise, and connections with an ecosystem of public and private partners.

Bank of Africa Partners with Maroc PME to Strengthen SME Financing and Competitiveness

Given the profound transformations underway in the national economy, the role of SMEs is once again at the forefront of discussions. And with good reason: these businesses form the backbone of the productive fabric, sustain local communities, create local jobs, and represent, for many aspiring entrepreneurs, the first step towards structured business. Yet, their economic weight remains out of step with their access to financing, their growth potential, and their contribution to value creation.

It is in this context that Bank of Africa launched the “SME Pact, BOA & Maroc PME” initiative. This took place during the 2026 National SME Conference, organized under the auspices of the Ministry of Industry and Trade. The initiative is designed to be financial, strategic, and operational. It aims to support businesses not only with their liquidity needs, but also with their structuring, skills development, resilience, and scaling up.

Bank of Africa’s message is clear. This isn’t just another program, but a new way of approaching business support. Khalid Nasr, Bank of Africa’s Executive Director, highlighted the persistent paradox between “the overwhelming weight of SMEs in our economy and their still very modest share of bank financing.” A paradox which, according to him, is not inevitable, but rather a sign that the ecosystem still needs to evolve significantly.

For the manager, the agreement concluded with Maroc PME precisely marks this break. “This initiative is not just another program; it’s a paradigm shift,” he emphasized, noting that the offering was built around four major pillars: structuring, resilience, competitiveness, and growth. The ambition is to support businesses throughout their entire lifecycle, from creation to transfer, including consolidation, scaling up, and expansion.

In this context, the Bank of Africa intends to leverage its own expertise as well as that of its partners. Several strategic agreements have been signed with Maroc PME, Réseau Entreprendre Maroc, FENAGRI, and Casablanca’s main industrial zones, including IZDIHAR, AZIAN, and the CFCIM. These partnerships are designed to bring solutions closer to the ground, where jobs are created, sectors are structured, and value is generated.

Confidence, the winning advantage

For his part, Ryad Mezzour, Minister of Industry and Trade, placed this initiative within a broader context: the transformation of the national economic fabric. According to him, Morocco is at a crossroads, in a context marked by the upgrading of several sectors, but also by increasing pressure on employment for qualified young people.

The minister noted that the country produces nearly 180,000 higher education graduates each year, in addition to some 330,000 vocational training graduates. However, even when the economy is performing well, its job creation capacity remains insufficient. “Our economy needs to create roughly 40% to 50% more jobs. It’s time to use all available levers to accelerate growth,” he emphasized.

This urgent situation arises within an increasingly complex international environment. Technological advancements, particularly artificial intelligence, are already changing the demand for junior profiles in several markets. At the same time, neo-protectionism threatens certain export opportunities and compels Moroccan companies to strengthen their competitiveness, agility, and adaptability. That is why the partnership with Bank of Africa is so important.

In this context, Ryad Mezzour calls for the emergence of a new generation of national champions capable of seeking international growth. He also advocates for a more connected approach between businesses, clients, suppliers, banks, and public authorities. But beyond the technical mechanisms, the minister particularly emphasized an intangible factor, often overlooked but absolutely crucial: trust.

“There is no successful economy without trust. Entrepreneurs are compelled to build more transparent relationships with their employees, partners, customers, and bankers. Trust, underpinned by rigorous control processes, can become a powerful driver of growth and resilience,” he stressed.

SMEs at the Heart of the Growth Model

From the employers’ perspective, Adil Raiss, president of the CGEM’s SME Growth and Entrepreneurship Commission, framed the debate in structural terms. Before supporting an existing entrepreneurial ecosystem, he argued, the fundamental question must now be answered: what growth model does Morocco want to build for the next decade?

The figures he presented reflect the scale of the challenge. SMEs represent more than 98% of formal businesses in Morocco and 95% of CGEM members. They are estimated to have contributed to 80% of formal job creation over the past five years. They are present in every province, in every sector, and at the heart of value chains.

Yet, they only produce 30% of the added value. This imbalance reflects several weaknesses. The first is related to scaling up. Only a small proportion of micro-enterprises manage to reach the next level of development and move into the next category. The second concerns business failure, particularly in the first few years of operation. The third relates to access to financing, which remains a difficult process for many entrepreneurs.

For Adil Raiss, the solution cannot be limited to simply mobilizing financial resources. “Improving access to financing is not just about mobilizing more resources, but above all about creating the conditions that allow businesses to present solid, structured, and fundable projects,” he argued. In other words, financing is necessary, but it is not enough. It must be accompanied by structuring, advice, skills development, and better integration into value chains. Only then can SMEs move from a survival strategy to one of sustainable growth.

A more territorially focused approach

Anouar Alaoui Ismaili, Director General of Maroc PME, presented the Agency’s new approach, outlined in its Orbit 2030 strategic plan. This plan is based on the ambition to move from a centralized, sector-based approach to a more territorially focused, personalized approach open to all productive sectors. Maroc PME intends to strengthen its presence in the Kingdom’s 12 regions, particularly through the Regional Investment Centers, to ensure closer collaboration with businesses. The goal is to provide tailored solutions for each level of maturity, based on the real needs of entrepreneurs and the specific characteristics of each region.

By 2030, Maroc PME aims to support 4,000 SMEs and contribute to creating or preserving 54,000 jobs. A monitoring and evaluation system will be in place to measure the impact of the programs and adjust the mechanisms as they are implemented. Through this initiative, BOA and Maroc PME intend to launch a new phase in supporting SMEs.

The challenge is no longer simply to provide funding, but to foster the emergence of better-structured, more competitive, more resilient businesses, better prepared for growth. The next step is to translate these commitments into tangible results on the ground. The regional tours announced by Bank of Africa and its partners should bring the offerings closer to entrepreneurs in the regions, industrial zones, and business hubs. For it is there, in close proximity to project initiators, that the success of this pact will be determined.

In a context where Morocco seeks to accelerate its move upmarket, create more skilled jobs, and strengthen its productive base, SMEs appear more than ever as a strategic lever. However, they must be given the means to transition from a role of economic survival to that of a sustainable engine of growth.

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(Featured image by AbsolutVision via Unsplash)

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First published in LES ECO.ma. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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