- 17:35El Mehdi El Jamari scores knockout victory over Thongpoon in Bangkok
- 17:10Paris Book Festival highlights Morocco's literary scene
- 16:45National program to enhance scientific infrastructure in Morocco
- 16:35Spain's response to U.S. tariffs on EU imports
- 16:10ONMT's strategic roadshow highlights Morocco's tourism potential in North America
- 16:03Erdogan files legal complaint against opposition leader over alleged insult
- 15:43Crackdown on counterfeit motor oil network in Casablanca’s outskirts
- 15:33Chinese citizens captured fighting for Russia in Ukraine raises global concerns
- 15:10Wydad-Raja derby: key details on match organization
-
Weather
![]()
9°C/31°C
-
Wednesday
![]()
18.1°C/23.1°C
-
Thursday
![]()
16.8°C/23.8°C
-
Friday
![]()
17.2°C/22°C
-
Saturday
![]()
16.8°C/20.6°C
-
Sunday
![]()
17.2°C/17.2°C
-
Prayer times
RABAT2025-04-08
Follow us on Facebook
Tamwilcom Achieves $4.75 Billion in Financing for 2024
Tamwilcom, Morocco’s state-owned financial institution, has reported impressive financial results for 2024, mobilizing a total of MAD 47.5 billion (approximately $4.75 billion) across 82,200 operations. This achievement includes commitments amounting to MAD 28 billion ($2.8 billion).
In a notable performance, Tamwilcom surpassed its budget targets for the year by 109%, reflecting a 6% year-over-year growth, excluding guarantees for public enterprises. These results were discussed during the institution’s 10th board meeting held recently in Rabat.
Private sector companies were the primary beneficiaries, receiving 94% of the financing support, underscoring a clear commitment to micro, small, and medium enterprises (MSMEs). Through its core guarantee activities, Tamwilcom facilitated MAD 41.3 billion ($4.13 billion) in credit for MSMEs, backed by MAD 23.4 billion ($2.34 billion) in commitments, representing an 8% increase from the previous year. Notably, micro and very small enterprises accounted for 89% of the guarantee activity.
Moreover, the institution's Islamic finance initiative, Daama Tamwil, demonstrated significant growth, achieving a 15% increase in 2024, marking yet another year of double-digit expansion. This initiative covered MAD 681 million ($68.1 million) in participatory bank financing, supported by MAD 379 million ($37.9 million) in commitments.
At the board meeting, chaired by Minister of Economy and Finance Nadia Fettah, Tamwilcom's financial statements for the year ending December 31, 2024, revealed a Net Banking Income of MAD 807 million ($80.7 million) and a Net Profit of MAD 386 million ($38.6 million).
Founded in 1949, Tamwilcom has evolved over the decades into a key player in Morocco's financial landscape. Initially established as the Central Guarantee Fund (CCG), it now operates under banking law, focusing on improving financing access for SMEs. In 2020, it transitioned into a public limited company under Law 36.20, becoming the National Company for Guarantee and Business Financing (SNGFE).
Through its dedicated efforts, Tamwilcom continues to support Moroccan businesses by providing tailored financing solutions, fostering economic growth, and reinforcing the stability of the financial sector.
Comments (0)