Morocco is finalising the legislative and regulatory framework for the launch of the first crowdfunding platforms in Africa and the Middle East. Draft law no. 15-18 on collaborative financing was indeed recently approved by Parliament.
This system is based on the idea of involving the public in the fundraising process through a digital platform that will put the entrepreneur/project owner lacking liquidity in contact with a saver wishing to invest their money in a project.
“In Morocco, crowdfunding operations have already been carried out, mainly from platforms based abroad […]”, said Mohamed Benchaâboun, Minister of Finance and the Economy. According to economists, worldwide projections forecast a market of 140 billion dollars by 2022. In Morocco, awareness-raising and outreach operations will be organised for the general public in order to explain the benefits and workings of this system.