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The Moroccan Economy in Brief: Tuesday, September 15, 2020

Reasons why a 360-degree approach to digitization is crucial to ensure growth in Africa: Africa's potential, if properly harnessed, could lead to substantial growth and development, but also to a complete transformation of the continent. If Africa succeeds in harnessing this potential, it would be on the threshold of an imminent Fourth Industrial Revolution (4IR) that would have an undeniable impact on the entire continent. Africa, with its young and rapidly growing population, its great need for new skills and its high levels of unemployment, needs more than ever to accelerate its digital transformation in order to boost all its industries and sectors.

Interview with Tawfik Benzakour, Managing Director of Prevas A.C.C.: An investment portfolio of 25 MDH under management:

 Tawfik Benzakour : Together with the Prevas Group, we have launched a subsidiary dedicated to credit insurance. It is a product that is used to guarantee inter-company commercial transactions and which has shown strong market demand in recent years. In view of the increasingly longer payment terms and the economic situation, companies are calling on this service, which enables them to trade with peace of mind and to guarantee and secure their customer portfolio, i.e. their turnover. We therefore decided jointly with the Prevas group to launch this branch since we also noticed that in Morocco the intermediation and brokerage in credit insurance were almost invisible and generally when we look at the Moroccan intermediation market we find that there are almost no intermediaries specialised in credit insurance and that the expertise in credit insurance is always requested by foreign experts to be able to accompany clients in the placement and management of their credit insurance contract.

Financial inclusion: Eqdom distinguished by Capital Finance International: The award is a recognition of the company's efforts to promote the financial inclusion of sections of the population that do not meet the criteria for traditional credit. A subsidiary of the Société Générale Group and a leader in consumer credit for 45 years, Eqdom has established itself as a true financial partner for Moroccan families. In this respect, the jury praised Eqdom's commitment to the development of financing solutions for development and social impact. They also stressed that Eqdom's inclusion does not stop at customer-oriented operations, but also extends to its teams with a 50-50 gender parity ratio, making it a company that openly values competence and diversity right up to its highest management levels.