Presentation taoufiq-lahrach-caisse-centrale-de-garantie-morocco

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Presentation taoufiq-lahrach-caisse-centrale-de-garantie-morocco

  1. 1. CAISSE CENTRALE DE GARANTIE : CCG’s Challenges Global Conference on Guarantee Schemes for SME Financing Tallinn, June 8th 2011 Taoufiq LAHRACH
  2. 2. Some Information about Morocco• Population : 31 Million• GDP : 779 Billions MAD (1 Euro = 11.4 MAD)• Debt : 49.3 % of GDP• Treasury Bond (Maturity 5 years) : 3.93%• Bank Credit to the Economy: 530 Billions MAD• Bancarisation Rate : 50%• Market Capitalisation : 532 Billion MAD• Fitch – S&P Rating : BBB/Stable 2
  3. 3. Issued Guarantee Trend 1998-2010 1,400.00 1,200.00Issued Guarantee Million MAD 1,000.00 800.00 600.00 400.00 200.00 - Years 3
  4. 4. OBSTACLES1998-2008 : Each need Each offer EachFund Since 2009 : 1 Fund for different needs. •Investment Loans • Contract Abroad Guarantee • Creation • Development SME’s Guarantee • Restructuring •Young entrepreneurs Fund •Working capital • Restructuring • Venture capital •Upgrading •Culture’s project 4
  5. 5. OBSTACLESBAROMETRIC STUDY ON THE REPUTATION AND IMAGE OF THE CCG STRENGTHS  Financial solidity (under State’Control) WEAKNESSES  Credibility of the signature  Competence of employees  vailability & Amiability of the Staff  Improving the profitability of the banks  Social organization improveing investment  Bureaucracy  Complexity of the Procedures  Rigidity in the Treatment of Files  Lack of Proximity in the Field  PayementRestrictive Conditions  Academic Vision of the SME 5
  6. 6. Revision of the National Guarantee System (NGS) : 2007 State of NGS Main Targets Revision of NGS  Rationalize the NGS  Several Actors Rethink its Architecture  Dilution of Public Efforts Strengthen its Intervention  Limited Impact Ministry of Finance CapacityStudy piloting :Ministry of Finance, Central Bank, CCG, Dar Ad Damane and Caisse Marocaine des Marchés. Retained Script: 1. State: Central Actor of NGS 2. CCG : Only Operator of NGS 3. SME : Priority Target 6
  7. 7. Setting of a New strategy Axis I Axis II Axis III Reengineering New Offer Adapted process for Regional Deployment to the Life Cycle of Heightening Rapidity for More Proximity the SME with Banks and SMEs Development Plan 2009-2012 7
  8. 8. Axis I : New Guarantee Offer • Covering Financing needs: Following SME’Life Cycle (i) Generic Offer • Opening to all Economic Sectors Venture Capital Creation Working Capital SME Financial Development Restructuring 8
  9. 9. Axis I: Guarantee Offer(ii) Multiple Financing Modes Offer Before New NGS Diversification of Financial Modes MLT New offer MLT offer Working Leasing capital Venture Capital(iii) Adapted Parameters & •Guarantee Coverage Rate Risk Sharing, in Terms of : •Risk Ceiling •Guarantee Fees •Lim Enterprise 9
  10. 10. Axis II: Reengineering process Based on value analysis & Subsidiarity PrincipleTarget : Elimination of redundant activities not having added values during the guarantee life cycle Issuing Following Up Payment Reconvring Guarantee Implenented actions •Decision process •Dematerialisation • Limitation to • Adoption of the • Délégation to • Standardisation of Events Impacting Final Loss Banks. Risk Analysis. the Risk. Concept. 10
  11. 11. Axis III: Regional representationOpening of Business Centers •Ensure proximity to SME by exercising an advisory role •Accompagny the local banking network. •Pave the way for a new regional dynamic. 11
  12. 12. ProductionSME’s activity (Billion MAD) 1.24 1.22 1.20 1.18 1.16 1.14 1.23 1.24 1.12 1.10 1.23 1.11 1.08 1.06 1.04 Prévisions Réalisations 2009 Prévisions Réalisations 2010 12
  13. 13. Quotations profile 36% 20% 18% 9% 8%0% 2% 1% 2% 1% 2%A B+ B B- C+ C C- D+ D D- E 13
  14. 14. Perception Ministry of Finance Endowment CCG Historic Desired Perception Perception Subsidy = Cost Impact Center 14
  15. 15. Ambitions and expectations Ambitions Expectations Financial institution Entreprises’Target sound, strong and 2015 : 1% GDP viable with sustainable resources Real Strength of Framed Discretionary Proposal Management 15
  16. 16. THANK YOU FOR YOUR ATTENTION

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