1. CAISSE CENTRALE DE GARANTIE :
CCG’s Challenges
Global Conference on Guarantee Schemes for SME Financing
Tallinn, June 8th 2011
Taoufiq LAHRACH

2. Some Information about Morocco
• Population : 31 Million
• GDP : 779 Billions MAD (1 Euro = 11.4 MAD)
• Debt : 49.3 % of GDP
• Treasury Bond (Maturity 5 years) : 3.93%
• Bank Credit to the Economy: 530 Billions MAD
• Bancarisation Rate : 50%
• Market Capitalisation : 532 Billion MAD
• Fitch – S&P Rating : BBB/Stable
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3. Issued Guarantee Trend 1998-2010
1,400.00
1,200.00
Issued Guarantee Million MAD
1,000.00
800.00
600.00
400.00
200.00
-
Years
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4. OBSTACLES
1998-2008 : Each need Each offer EachFund Since 2009 : 1 Fund for different needs.
•Investment Loans
• Contract Abroad
Guarantee • Creation
• Development
SME’s Guarantee • Restructuring
•Young entrepreneurs Fund •Working capital
• Restructuring • Venture capital
•Upgrading
•Culture’s project
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5. OBSTACLES
BAROMETRIC STUDY ON THE REPUTATION AND IMAGE OF THE CCG
STRENGTHS
 Financial solidity (under State’Control)
WEAKNESSES  Credibility of the signature
 Competence of employees
 vailability & Amiability of the Staff
 Improving the profitability of the banks
 Social organization improveing investment
 Bureaucracy
 Complexity of the Procedures
 Rigidity in the Treatment of Files
 Lack of Proximity in the Field
 PayementRestrictive Conditions
 Academic Vision of the SME
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6. Revision of the National Guarantee System (NGS) : 2007
State of NGS Main Targets
Revision of
NGS  Rationalize the NGS
 Several Actors Rethink its Architecture
 Dilution of Public Efforts Strengthen its Intervention
 Limited Impact Ministry of Finance Capacity
Study piloting :Ministry of Finance, Central Bank, CCG, Dar Ad Damane and Caisse
Marocaine des Marchés.
Retained Script:
1. State: Central Actor of NGS
2. CCG : Only Operator of NGS
3. SME : Priority Target
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7. Setting of a New strategy
Axis I Axis II Axis III
Reengineering
New Offer Adapted process for Regional Deployment
to the Life Cycle of Heightening Rapidity for More Proximity
the SME with Banks and SMEs
Development Plan 2009-2012
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8. Axis I : New Guarantee Offer
• Covering Financing needs: Following SME’Life Cycle
(i) Generic Offer • Opening to all Economic Sectors
Venture
Capital
Creation
Working
Capital
SME
Financial
Development
Restructuring
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9. Axis I: Guarantee Offer
(ii) Multiple Financing Modes
Offer Before New NGS Diversification of Financial Modes
MLT New
offer
MLT offer Working
Leasing
capital
Venture
Capital
(iii) Adapted Parameters & •Guarantee Coverage Rate
Risk Sharing, in Terms of : •Risk Ceiling
•Guarantee Fees
•Lim Enterprise 9

10. Axis II: Reengineering process Based on value analysis & Subsidiarity Principle
Target : Elimination of redundant activities not having added values during the guarantee life cycle
Issuing
Following Up Payment Reconvring
Guarantee
Implenented actions
•Decision process
•Dematerialisation • Limitation to • Adoption of the
• Délégation to
• Standardisation of Events Impacting Final Loss
Banks.
Risk Analysis. the Risk. Concept.
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11. Axis III: Regional representation
Opening of Business Centers
•Ensure proximity to SME by exercising an advisory role
•Accompagny the local banking network.
•Pave the way for a new regional dynamic.
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12. Production
SME’s activity (Billion MAD)
1.24
1.22
1.20
1.18
1.16
1.14 1.23
1.24
1.12
1.10 1.23
1.11
1.08
1.06
1.04
Prévisions
Réalisations
2009 Prévisions
Réalisations
2010
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13. Quotations profile
36%
20% 18%
9% 8%
0% 2% 1% 2% 1% 2%
A B+ B B- C+ C C- D+ D D- E
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14. Perception
Ministry of Finance
Endowment
CCG
Historic
Desired
Perception
Perception
Subsidy = Cost Impact
Center
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15. Ambitions and expectations
Ambitions Expectations
Financial institution
Entreprises’Target
sound, strong and
2015 : 1% GDP viable with
sustainable resources
Real Strength of Framed Discretionary
Proposal Management
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16. THANK YOU FOR YOUR ATTENTION