Morocco's Imtiaz programme grants qualifying SMEs an investment premium of 20% of project cost (capped at 5M MAD) tied to a growth contract; by 2019 it had backed 1,293 firms, though the Cour des Comptes found ANPME's monitoring inadequate.
1,293
Enterprises supported (2014–September 2019)
1,729
Investment projects (2014–September 2019)
~8.3 billion MAD
Total investment value (2014–September 2019)
39,392 of 78,508
Committed jobs, direct of total (2014–September 2019)
Details
Maturity
Established
Promoter
Maroc PME (Agence Nationale pour la Promotion de la Petite et Moyenne Entreprise)
Period
2011–present
Keywords
SME finance, industrial policy, investment grants
Context
Imtiaz, run by Maroc PME (formerly ANPME) since around 2010-2011, grants qualifying high-potential SMEs an investment premium worth 20% of their project cost, capped at 5 million Moroccan dirhams, in return for signing a 'Growth Contract' committing the firm to job-creation and value-added targets.
Results
Between 2014 and September 2019, Maroc PME supported 1,293 enterprises through 1,729 investment projects worth approximately 8.3 billion MAD, with commitments to create 78,508 jobs; Morocco's Cour des Comptes found the joint monitoring committee met only once and no reliable national SME database existed to verify outcomes independently.
Implementation
Indicative cost
Medium (€50k–€500k)
Time to results
Long (> 3 years)
Staffing & skills
Maroc PME selection committee and account managers
Conditions for success
tying the investment premium to a signed 'Growth Contract' with job-creation and value-added targets
selecting candidates through a public–private selection committee
Common failure modes
the Cour des Comptes found the joint monitoring committee met only once, no dedicated complaints-tracking unit existed, and no reliable national SME database was built to verify outcomes independently
job and investment totals are programme commitments and self-reported figures, not independently audited results
Commonly funded by
National / regional programmes
Indicative funding routes for practices of this type — always check each programme's current calls and eligibility rules.
Replication kit
Reusable artefacts from this practice — as published by their sources.