For the EBRD, all prerequisites for access are met

The prerequisites for access to the capital market in Morocco are all met, said Thursday in Casablanca, Lamiae Derraji, Principal Banker at the European Bank for Reconstruction and Development (EBRD).

“In Morocco, the prerequisites are there: The macroeconomic environment, the legal and regulatory framework, the market infrastructure and access to data and information, and the predictability of market operations”explained Lamiae Derraji during a conference organized by the Casablanca Stock Exchange and the EBRD under the theme “What opportunities for agile financing via the Stock Exchange and the capital market”.

However, she lamented, “there are not enough issues to meet investor demand”drawing up, in this sense, a diagnosis of the main factors explaining this finding, including in particular those relating to issuers, intermediaries and the investor base.

The EBRD representative further referred to the key success factors for a listed company, citing, in particular, a clear long-term business vision, a compelling investment history, management and corporate governance of quality and reliability.

For his part, the managing director of Immorente Invest, Khalil Mengad, recalled that his company went public in 2018, noting that this operation allowed Immorente to quadruple its size.

According to him, to succeed in its IPO, any company must first have a business model proven and experienced by the sector, be transparent and communicate both on the opportunities and on the risks.

He also mentioned the advantages of an IPO for companies, including the strengthening of governance, management rigor and credibility, noting that Immorente Invest has had great opportunities thanks to the Stock Exchange, in particular with the multinationals.

For his part, Colm Lavelle, head of partnership development at Intuition, a company specialized in knowledge solutions, returned to the online training program “Capital Markets”, saying that it aims to build the capacity of the main stakeholders and participants in capital markets in order to acquire the fundamental skills necessary for the proper functioning of the market.

The themes of this program relate essentially, according to Colm Lavelle, to introduction to the capital market, credit risk, risk management, participatory finance and fintech.


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