Good news for startups and businesses in Morocco. Morocco’s Banque Centrale Populaire (BCP) group and the Moroccan Hseven, an accelerator of startups in Africa, have both entered into a strategic partnership with the objective is to promote innovative startups, through an offer of support and financing adapted according to their level of maturity. Eligible startups will have access to a loan of 1.5 to 15 million DH ($1.5 million) without guarantee or personal guarantee, and with a deferral before repayment of up to 36 months.
“Through this partnership, we are committed to supporting innovative projects by providing financial support that meets the constraints of project leaders, so that they can start their entrepreneurial activities in good conditions,” said Soumia Alami in a press release.
Here Is All You Need To Know
- Through the partnership, the BCP makes available to startups selected and supported by Hseven a financing mechanism, including equity or bank financing depending on the level of maturity of the projects.
- Funds would be offered on terms deemed advantageous in terms of deferral, pricing and guarantees.
- According to Hseven, eligible startups will have access to a loan of 1.5 to 15 million DH ($1.5 million) without any guarantee or personal guarantee, with a deferral of up to 36 months.
- The loans benefit from the guarantee of the Central Guarantee Fund of Morocco.
- The equity offer initially offers an investment ticket from the innovation fund BCP – Upline Alternative Investments of 1.5 million DH, and secondly, a ticket ranging from 5 to 15 million DH.
- In terms of support, the offer supports project leaders, particularly in their intangible investments: studies, prototypes, tests …
“By pooling their efforts and skills, Hseven and BCP provide to startups keys to success: high-level support and patient funding. The unprecedented deferral granted by BCP will give them a real breath of fresh air that will allow them to start their entrepreneurial adventures more serenely, “said Amine Al-Hazzaz, founder and president of Hseven.
- Read also: This Morocco-Based Accelerator Is Looking For Startups To Invest In
- Based in Casablanca, Hseven is a platform that connects startups, large groups and investors in order to build solid ecosystems and foster the emergence of African startups deemed to be world-class.
“With this new partnership, the BCP group confirms its desire to promote the entrepreneurial spirit, by creating positive competition for Moroccan startups,” said the bank, which claims 24% of the Moroccan market.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com