CDG Invest and BAM sign a partnership to promote fintechs

Bank Al-Maghrib and CDG Invest, the investment arm of the Caisse de Dépôt et de Gestion Group (CDG), signed a partnership agreement on Thursday, February 10, 2022 in Rabat, aimed at promoting the development of fintechs in Morocco.
The partnership focuses, first of all, on cooperation in the creation and launch of fintechs supported by the 212 Founders Program. This program was set up in 2019 by CDG Invest to support and finance entrepreneurs with projects to create innovative startups.

Bank Al-Maghrib will accompany CDG Invest and the selected fintechs on the regulatory aspects of the projects under the 212 Founders Program. In addition, Bank Al-Maghrib will assist CDG Invest on the contractual terms and conditions between the supported fintechs and the partner banks.

For its part, through 212 Founders, CDG Invest will offer entrepreneurs technical, strategic and operational support as well as mentoring to help them design and deploy a first version of their product and validate its use in the field. CDG Invest will invest financially in the supported startups with fintech projects.

The agreement also provides for the two institutions to coordinate their initiatives on the development of the fintech ecosystem. The agreement also covers the exchange of information, experiences and best practices in this field.

The agreement was signed by Mr. Abdellatif Jouahri, Wali of Bank Al-Maghrib and Mr. Abdellatif Zaghnoun, General Manager of the Caisse de Dépôt et de Gestion and Chairman of the Board of Directors of CDG Invest.