Morocco offers landscapes and cityscapes that can't be found anywhere else
Credit Populaire Maroc is a bank based in Morocco which has become one of the major players in northern Africa by employing sound business practices, smart growth strategies and an international outlook. It has helped fuel a dramatic increase in access to banking services by Moroccan people, shown a high degree of community caring, and helped local businesses form partnership with many different countries in the region.
A Great Place to Visit, a Great Place to Prosper
Morocco occupies a prominent and unique place in northern Africa. It as a long history of independence and has enjoyed a degree of governmental and economic which makes it attractive to tourists and investors alike. Its strategic location, with coasts on both the Mediterranean and Atlantic has made Morocco an important player in the region for many centuries. Its unique culture is a blend of Berber, Arab, Sub-Saharan African, and European influences.
Morocco is also a country that is incredibly diverse geographically. A large part of the country is mountainous, with the Atlas Mountains in the center and south and the Rif Mountains in the north. These mountains support a variety of climates ranging from Mediterranean to temperate to an alpine climate of forests and ski resorts, with the town of Ifrane recording the lowest temperature ever on the continent, -24º C. Ifrane was also named one of the cleanest cities in the world. In the southeast and along the Atlantic coast, Morocco has sandy desert. Here, romantic images of camel caravans trekking across the dunes to lush oases attract the adventurous and tourists seeking an exotic experience. The productive plains in the center and north of the country enjoy a Mediterranean climate, and are bathed in sunshine and moderate temperatures year round.
Economically, Morocco is a regional power. It has Africa’s fifth largest economy and continues to grow at a solid rate. It also benefits from strong cultural ties with the rest of Africa, and is a gateway for doing business with sub-Saharan African markets. The government has paid particular attention to improving performance in agriculture, renewable energies, manufacturing, and tourism. Free trade agreements with other countries in the region have meant that Moroccan business have expanded the reach of their exports to include developing countries, mostly in Africa. As a result, the non European share of Morocco’s trade has grown by more than one third in the past decade; trade with sub-Saharan Africa increased by 13% in 2014.
All of this economic growth and progress has had a direct effect on poverty reduction and access to education and health care. And because of its political stability and the government’s commitment to social development, Morocco is an attractive place for foreign investment. In fact, most years it is the leading recipient of foreign direct investment into North Africa.
A Local Bank with an International Outlook
Of course, a healthy economy needs a healthy banking sector. Morocco’s banks have been growing steadily along with the economy, and this growth is a key factor in Morocco’s sustained economic stability. Morocco’s banks were not directly damaged as much by the financial crisis as the banks in many other countries, although the Moroccan economy in general and the banking sector in particular were indirectly affected because of the amount of business Moroccans do with the developed world, mostly Europe.
Neither did Moroccan banks suffer the crisis of trust that plagued banks in Europe and the United States. In fact, in the past ten years, resources have more than doubled and loans have more than tripled. Net banking income has doubled. The percentage of Moroccans with a bank account has more than doubled in the past ten years and banking assets are a bit greater than GDP. The sector is overseen by a strong central bank, with rules requiring Morocco´s banks to meet or exceed international norms.
Credit Populaire du Maroc is the second largest bank in Morocco and the tenth largest in Africa in terms of assets. The bank maintains overseas offices in Germany, Great Britain, Italy, Spain, France, Netherlands and Belgium and the Central African Republic, and has affiliates in Burkina Faso, Bénin, Côte d’Ivoire, Mali, Niger, Sénégal and Togo. Domestically, its market share of deposits is about 28% and it employs about 12,000 people.
Credit Populaire du Maroc has been quite active in supporting international trade and foreign investment at home. Just recently, in fact, it hosted a delegation of business leaders from Togo in order to introduce them to opportunities available in Morocco as a result of South-South cooperation. The bank has also lent its financial muscle to efforts to address major concerns of the textile industry in Morocco, the largest private employer in the country. Here, it is facilitating trade by factoring and by making VAT credit money available to enhance cash flow of merchants awaiting reimbursement.
Another international trade initiative in which Credit Populaire du Maroc has been involved is the annual B to B in Africa, which helps Moroccan companies establish deeper trade relationships with specifically targeted countries. Last year’s edition was focused on Benin, Senegal and Côte d'Ivoire, while this year one hundred Moroccan exporters were introduced to potential partners in Mali, Sénégal and Burkina Faso. Working closely with the Ministry of Industry, Trade, Investment and the Digital Economy, this event provides the opportunity for Moroccan companies to form public-private partnerships and to develop commercial and industrial ties with synergistic businesses abroad.
Quality is Rewarded
Quality in banking does not come by accident. It requires commitment and planning, and measurement of results so that the company can constantly improve. Credit Populaire du Maroc has obtained ISO 9001: 2000 certification for its reporting on strategy. Following ISO:9001 norms allows the bank to be more efficient in terms of market performance in the area of international payment instruments and offer discounts for such transactions. Credit Populaire du Maroc has become a leader in facilitating international trade for Moroccan firms through rigorous, well planned and thoroughly reviewed procedures which its customers and all of its stakeholders appreciate.
Credit Populaire du Maroc was also recognized this year with the African Bank of the Year trophy, while one of its subsidiaries was awarded the Financial Inclusion trophy. The African Bank of the Year trophy is given to the bank which shows remarkable quantitative and qualitative performance, shows a meritorious increase in customer base, and adds high value to its products and services. The Financial Inclusion trophy is given to a bank that has offered financial products and services to populations who are otherwise historically ignored, primarily the most economic vulnerable. In this case, the trophy went to the AMF foundation, which is dedicated to microfinance, and which has a focus on countries such as Mali, Côte d'Ivoire, Guinea and Gabon.
Responsible Corporate Citizenship is part of the Job
Closer to home, the Banque Populaire Foundation (PBF) launched a project to provide WiFi equipment and internet subscriptions to all high schools computer sites housing the Preparatory Classes for Grandes Ecoles (CPGE) of Morocco. It founded units in schools in Agadir and Tangier to help children of Moroccan parents living abroad integrate more completely into Moroccan society students, has donated books, organized cultural seminars, and sponsored programs in high schools and universities. Credit Populaire du Maroc is committed to supporting excellence and quality in education, just as it does in its banking operations, and takes its role as a good corporate citizen very seriously.
People come to Morocco for many reasons, whether it be for the scenery, the culture, the people, or its modern systems. And they invest in Morocco because of its sound, stable and growing economy. Credit Populaire du Maroc is an important part of the Moroccan economy, and deserves its reputation for leadership, quality and corporate citizenship.
Because of its commitment to continuous quality improvement, Credit Populaire Maroc has been selected to receive the BID International Star Award for Quality for 2015 at the convention in Geneva.
About BID and the International Star Award for Quality:
BID is a private and independent organization founded in 1984, whose primary activity is business communication orientated towards quality, excellence and innovation in management. A leader in the broadcasting of Quality Culture, BID recognizes those companies and organizations which lead the most important activities in the business world, and is considered the founding organization in the broadcasting of the Culture of Quality, Excellence and Innovation in 179 countries.
The trophy symbolizes a pledge to the principles of Quality Culture. The QC100 Total Quality Management Model, together with the Quality Mix program, media coverage of the convention and its impact on the community and business sector, create an unmatched platform for continuous improvement within the organization and awareness of the achievements of the company at an international level.
Awards are given only to those who are committed to improving their Quality Culture based on the principles of the QC100 Total Quality Management Model. Candidates are proposed by the leaders of previously awarded companies who they consider worthy of the award. Especially meritorious candidates may also be nominated. The International BID Quality Award Selection Committee then chooses the winning companies who will receive the award in New York, Paris, Geneva, Frankfurt, Madrid and London.