Morocco has introduced a new legal framework for crowdfunding, which came into effect in early 2025, to diversify financing sources for small and medium-sized enterprises (SMEs) and startups. The law, adopted in 2023, allows two types of crowdfunding: donation-based and investment-based (equity or debt). The aim is to reduce reliance on traditional bank loans and support innovation, industrialization, and exports.
As of mid-2026, several crowdfunding platforms have been licensed by the Moroccan Capital Market Authority (AMMC). For example, platforms like 'Wifak' and 'Chaabi Crowd' have launched operations, enabling businesses to raise funds from the public. According to a report by the AMMC, the total amount raised through crowdfunding in 2025 reached approximately 50 million Moroccan dirhams (about $5 million), with an average ticket size of 100,000 dirhams per project.
The initiative aligns with the government's broader strategy to improve access to finance, particularly for SMEs, which account for over 90% of Moroccan businesses but often struggle to obtain credit. The new framework includes investor protection measures, such as caps on investment amounts per project and mandatory disclosure requirements.
However, challenges remain, including low public awareness and the need for digital financial literacy. Experts suggest that the success of crowdfunding will depend on building trust and ensuring transparent operations. The AMMC continues to monitor the sector and plans to update regulations based on market feedback.
