Crédit Agricole du Maroc launches its factoring offer through its subsidiary “CAM Factoring”

THE MORNING

April 25, 2024 at 6:30 PM

Launched during a ceremony under the theme “Thefactoringinnovative financing at the service of a sustainable development“, this new offer completes the banking group’s product range aimed at financing the business cycle of companies. Through “CAM Factoring”, the CAM Group is committed to actively supporting the growth and prosperity of its customers’ activities, more specifically those related to the agricultural and agro-industry sectors, through the provision of flexible and competitive financial services.

The subsidiary offers tailor-made factoring solutions, adapted to the short-term financing needs of companies, improving their management Treasury and at the same time reduce the credit risk associated with their debtors through an efficient digital platform.

Speaking on the occasion, the Minister of Agriculture, Mohamed Sadiki, praised the efforts of the CAM Group, which is positioning itself as an essential partner in the development and implementation of the “Green Generation” strategy. He also underlined that the group continues to support the sector in the current situation, mainly characterized by climate change, noting that the group played the same role during the difficult period of the health crisis related to Covid. The Minister also emphasized the importance of the launch of ‘CAM Factoring’ in supporting investors, producers and players in the agricultural sector, recalling that GCAM was able to diversify its offering with more than 200 banking products, each adapted to a specific situation . category of customers and aligned with state support programs.

For his part, the Chairman of the Board of Directors of CAM, Mohamed Fikrat, emphasized the importance of factoring as an essential financial product in high demand in the market, especially in the agricultural and agro-industry, where cash management is crucial. In this sense, he explained that Factoring allows the bank, upon presentation of an invoice and a file that meets certain conditions, to release a large part of the invoice amount before repaying it to the bank daily management of companies, thus improving their operational fluidity is promoted and their resilience is strengthened.

In turn, the President of the Professional Association of Finance Companies (APSF), Abdellah Benhamida, highlighted the relevance of factoring as an alternative financing method, where demand is increasing from Moroccan companies seeking to support their business cycle. And to specify that the factoring market in Morocco currently consists of eight operators, four of which are members of the APSF.