Crédit Agricole du Maroc (GCAM) has announced the creation of a new subsidiary in Morocco, CAM Leasing, to offer leasing to farmers, particularly in terms of mechanization, in partnership with the International Finance Corporation (IFC – group World Bank), .
On this, a partnership agreement was signed between the two entities, Thursday, April 26, on the sidelines of the 13th edition of the International Exhibition of Agriculture in Morocco (SIAM), from April 24 to 28, 2018.
The new subsidiary offers a leasing financing offer for all sectors of the national economy, with a focus on agricultural financing – in line with the banking group’s vocation. Also, it aims to cover the entire value chain of the sector, from small farms to agribusiness. In particular, this has the advantage of offering small and medium-sized farmers a leasing benefit to which they were not entitled until now
“This partnership converges with the objectives of the PMV. CAM Leasing brings to light the missing link in the financing of agricultural mechanization. And we are certain that this will contribute to the achievement of the objectives of the PMV for the commissioning of more than 5,000 tractors and machine tools per year, against 3,000 currently, “said Tariq Sijilmassi, president of GCAM.
CAM Leasing will benefit from IFC’s expertise and, in particular, from the benefits of its Africa Leasing Facility program, in order to design a leasing solution that meets the very specific needs of farmers, enabling them to modernize their equipment and improve their productivity.
