Bank of Africa Launches BOA MDM Network to Boost Diaspora Investment in Morocco

Bank of Africa launched its regional tour, the “BOA MDM Network,” in Agadir. This support program is designed to direct remittances from the diaspora toward productive investment and increase their contribution to over 10% of the volume of national private investment.

To simplify this process, the institution suggests implementing the “Authorized Representative of the MDM Investor” status. This program unites the public-private ecosystem to streamline procedures and secure the transition from intention to investment.

While remittances from Moroccans living abroad are increasing year after year—reaching over 122 billion dirhams by 2025—their allocation remains unbalanced: the majority is directed towards consumption or savings, while the share allocated to investment remains capped at around 10%.

To develop this still largely untapped potential, Bank of Africa launched its regional “BOA MDM Network” (Bridge, Opportunities, Access) tour, designed to support Moroccans living abroad in their projects and strengthen their contribution to the Kingdom’s economic development. The initiative was launched earlier this week in Agadir, in the presence of the ecosystem of public and private stakeholders involved in supporting investors.

The issue had already been raised in the royal address on the 49th anniversary of the Green March, in which the Sovereign emphasized that “it is inconceivable that the contribution of Moroccans abroad to the volume of national private investment should be limited to 10%.”

The program, built on the integrated “BOA” model, aims to address this by positioning the bank as a facilitator, in line with the long-term strategy it has been implementing since 2012. Recalling the diaspora’s attachment to the Kingdom and its essential contribution to the national economy, Saaïd Amzazi, Wali of the Souss-Massa region, stated that “the royal message of the 49th anniversary of the Green March now constitutes a true roadmap.”

The observation is clear: the participation of Moroccans living abroad in productive investment remains far below its potential, even though our country attracts increasingly significant flows of foreign investment year after year. The challenge is therefore clear: to mobilize more savings, traditionally devoted to consumption or residential real estate, and direct them towards productive investments with high added value.

The creation of the status of “approved agent for BOA MDM investors”

To contribute to this effort, Brahim Benjelloun Touimi, Executive Managing Director of Bank of Africa, submitted a proposal to the participants aimed at streamlining the process for these investors. “This proposal complements the numerous initiatives already undertaken by all stakeholders. It consists of enhancing this ecosystem by creating the status of approved agent for Moroccan investors worldwide (BOA MDM),” he explained.

Structuring his presentation around three core beliefs—patriotism, collective innovation, and the Souss-Massa region as the ideal setting for realizing diaspora projects—the executive specified that this professional would be accredited by the Regional Investment Center (CRI) and appointed by the investor themselves, to ensure continuous support from the project’s launch to its completion. Its mission: to prepare the files, submit them to the relevant authorities, monitor the processing stages, coordinate the various stakeholders, and regularly inform the project promoter of the progress.

Such a system would offer several substantial advantages: limiting the mandatory travel of investors residing abroad to Morocco, reducing processing times and costs, strengthening the security of administrative procedures, and, above all, increasing the project completion rate. “The innovation lies in recognizing this representative as a permanent contact for the project promoter, like a general practitioner in the healthcare system or an accountant for a company. They would thus become the essential link in an integrated territorial chain of trust operating in synergy,” he argued.

He added that “this system would also contribute to the emergence of a new profession based on personalized support, expertise, and trust, and would constitute a further example of a successful public-private partnership.” In this context, the Souss-Massa region could become the first territory to host a pilot experiment in advanced economic regionalization, entirely dedicated to serving Moroccans around the world and transferable to other regions of the Kingdom.

Moroccans Living Abroad: A Race for Human Resources

Emphasizing the diaspora as a strategic lever for the Kingdom’s economic sovereignty, Driss El Yazami, President of the Council of the Moroccan Community Abroad (CCME), described three major dynamics shaping this environment, beginning with the reform efforts undertaken in recent years.

“His Majesty King Mohammed VI has attached great importance to the issue of the diaspora since his accession to the throne. We are experiencing another period of intensified reform of the institutional framework, notably with the imminent adoption of a law concerning the CCME and a second draft law establishing the Mohammed VI Foundation for Moroccans Residing Abroad. These two initiatives were reiterated by His Majesty in his November 2024 speech,” he stated.

The second dynamic is the rapid transformation of Moroccan communities abroad, marked by their globalization, increased female representation, and, above all, their socio-cultural development. As a recent OECD report noted, “nearly 20% of this population has a university degree (Master’s level or higher).”

The BOA MDM represents an extraordinary asset in a context of fierce competition, as all countries worldwide—including Morocco—are engaged in this race to attract highly qualified human resources. Hence the importance of unifying efforts. “Two actors, in my opinion, are essential: on the one hand, the private sector, and on the other hand, local authorities,” he concluded.

BOA MDM: Contributing to the emergence of investment projects

Presenting the BOA MDM Network as the ecosystem made available to Moroccans living abroad throughout their entrepreneurial journey, Moulay Driss Drissi Oudghiri, Director of the Migrant Market at Bank of Africa, explained that “for a long time, our mission consisted of managing remittance flows, savings and project financing. This mission remains fundamentally essential, but we are convinced that it is no longer sufficient for the needs of the diaspora, which has new expectations and ambitions.”

Before adding: “Our role is no longer just to finance projects. It is also to help them emerge. To be present earlier, at the moment when an idea takes shape, when an entrepreneur is looking for advice, guidance and the right partner to transform desire into action, intention into project and project into achievement.”

The goal is to reduce friction, shorten delays, and secure the transition from intention to investment. Hence the positioning, within this “Bridge,” of BOA Euroservices, a wholly-owned subsidiary of Bank of Africa with a presence in six European countries (France, Spain, Italy, the Netherlands, Germany, and Belgium).

Its director, Mohamed Afrine, affirms: “Bank of Africa now aims to support our compatriots at every stage of their projects, from identifying opportunities to their realization, by mobilizing all relevant partners.” He also noted that remittances from the diaspora exceeded 122 billion dirhams in 2025, double the volume of 2015 and triple that of 2007—a flow that now represents the country’s primary source of foreign currency.

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(Featured image by  Chris Boland 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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