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Arabia CSR Awards – sustainable finance

For the 6th consecutive year, BANK OF AFRICA was a double award-winner at the CSR Arabia Awards. The Group was awarded the highest rating in the Financial Services category in recognition of its commitment of more than 20 years to sustainable finance. The Bank was ranked second runner-up in the Partnerships and Collaborations category for adopting a highly structured governance process based on ethics, responsibility and transparency. The Arabia CSR Awards, which were launched in 2008, aim to recognise and honour outstanding Sustainable Development and CSR initiatives in the Arab region.

African Banker Awards

The Bank was named "Socially Responsible Bank of the Year 2018" for the 2nd time at "the African Banker Awards ceremony 2018”.

MORSEFF, special recognition for BANK OF AFRICA from the EBRD

At MorSEFF’s awards ceremony in april 2019, BANK OF AFRICA was presented with a special award for its excellent contribution to the programme and its leadership in sustainable finance.




Consistent with its commercial goals and working alongside the Group’s commercial staff, the Sustainable Development & CSR team has developed a number of sustainable finance positive impact programmes in conjunction with development agencies.
In just a few years, BANK OF AFRICA has emerged as a genuine market leader in responsible and inclusive finance. Its green and sustainable investments promoting energy transition amount to just under MAD 4 billion, in particular, in renewable energy, energy efficiency, waste management and recovery, sanitation and wastewater treatment as well as in female entrepreneurship and African SMEs.

Women Entrepreneurship

BANK OF AFRICA continues its strategy of supporting women entrepreneurs through its Women in Business programme.
This programme is conducted in partnership with the EBRD and provides a €20 million financing line and preferential terms and conditions for the day-to-day banking operations. It also provides for training and coaching initiatives.
Launched in October 2019, the offer is accompanied by a non-financial support programme: training modules, coaching and seminars to allow for networking development.
In partnership with the EBRD, the Group has designed a support solution called Women In Business (WIB), aimed at achieving a dual economic and social impact. This programme is based on a financing line of up to MAD 200 million and offers a complete solution for women entrepreneurs. In addition to the financing part, the WIB offering meets the needs of women entrepreneurs in terms of banking services, training and consulting.

Supporting investment in SMEs

As part of a national framework to create a vibrant small business sector, BANK OF AFRICA has forged a reputation as one of the first banks to proactively commit to supporting entrepreneurs.
In response to His Majesty’s speech in October 2019, the banking industry has accelerated introduction of financing offers for SMEs, particularly those wanting to expand their business on the continent.
Following the success of the Istitmar Croissance programme, BANK OF AFRICA is now heavily involved in the CAP TPE 2020 project. These programmes are available to every type of entrepreneur – sole trader, microentrepreneur or legal entity – who may be starting-up or developing their business. CAP TPE 2020 was rolled out in February 2020.

Funding a desalination plant

BANK OF AFRICA has arranged funding for one of the world’s largest drinking water desalination and irrigation plants. This infrastructure, located in the Agadir region, meets the region’s irrigation and drinking water needs. The possibility also exists of using wind energy as a source of power, thereby further strengthening the project’s goals, which are to preserve underground resources and promote green energy.

Green Bond

BANK OF AFRICA was the first Moroccan bank to issue a green bond (classified as a ‘positive impact bond’) via a public offering on the domestic market. This MAD 500 million green bond, issued in November 2016, was approved by the agency, Vigeo Eiris, thereby underlining the Bank’s socially responsible sustainable development credential and its willingness to finance domestic eco-responsible projects and initiatives that protect natural resources.

FCP Capital ISR Bénéficier de la performance du premier fonds ISR marocain investi sur les valeurs socialement responsables

At 31 December 2019, FCP Capital ISR, the first SRI fund to be launched by BMCE Capital Gestion, had gained +18.37% since launch in March 2015 versus a return of +8.70% for the Moroccan equity market as a whole over the same period.

It is worth recalling that the FCP Capital SRI fund invests in shares of companies that are selected on the basis of non-financial analysis as well as an appraisal, carried out by Vigeo Eiris, a leading international non-financial ratings agency, of each company’s environmental, social and governance (ESG) aspects.

The fund aims to reconcile financial performance with consideration for each company’s (i) quality of governance, (ii) carbon footprint and (iii) social footprint, when selecting and managing the underlying investments.

FCP Capital ISR thereby enables investors to grow their capital by investing in a vehicle that is consistent with their own social and ethical beliefs, while promoting socially responsible corporate behaviour and sustainable development.


BANK OF AFRICA’s commitment to supporting small businesses comprises financial as well as nonfinancial assistance, thereby satisfying a number of goals :

  • Bolstering the advice and support aspect
  • Helping small businesses master rudimentary banking and finance techniques
  • Creating networking and experience-sharing platforms between small businesses
  • Organising training and mentoring programmes run by banking industry professionals and university professors 
  • Helping small businesses to be energy efficient and to optimise resources
  • Supporting and helping entrepreneurs to develop their business
  • Organising financial education training


Climate Risks: "TCFD" Alignment 

In 2018 and in collaboration with various partners, BANK OF AFRICA was the first Bank in Africa to support the recommendations of the "TCFD" – Task Force on Climate-Related Financial Disclosures – under the aegis of the G20 Financial Stability Board. Our quest is to understand the risks and opportunities of climate-related financing and to ultimately integrate these into our Governance, Strategy, Risk Management, Metrics and Targets. 

BANK OF AFRICA was included in the first flagship report "Global Progress Report for the Banking Sector: TCFD Recommendations", published in October 2019, as the only "Supporting" African Bank to date. With a foreword by Sir Roger Gifford, Chairman of the UK Green Finance Institute, BCS Consulting produced the first comprehensive analysis of 76 leading financial institutions – includeing BANK OF AFRICA – on the implementation of the reporting framework outlined by the G20 Voluntary Task Force on Climate-Related Financial Disclosures (TCFD) in the banking sector’s financial communication.