As part of its nationwide tour to boost Morocco’s tourism sector, Bank of Africa (BOA) has made a stop in Tangier to introduce its Cap Hospitality program to hoteliers in the northern region. Initially launched in Marrakech on October 9, 2024, this program aims to assist Classified Tourist Accommodation Establishments (EHTC) in modernizing their infrastructure in preparation for major upcoming events, including the 2025 Africa Cup of Nations (CAN) and the 2030 FIFA World Cup.
Bank of Africa’s initiative is in line with Morocco’s national tourism development strategy and underscores the bank’s commitment to supporting productive investments in the country. Cap Hospitality offers tailored financial solutions to help EHTCs upgrade, expand, and meet international standards.
Cap Hospitality by BOA: Financial structure
The Cap Hospitality by BOA product consists of a joint credit (Bank Loan + Subordinated Debt) designed to finance renovation, upgrading, and capacity expansion projects for eligible EHTCs, with a maximum funding limit of 100 million MAD. The financing is structured as follows:
- Junior Credit (Subordinated Debt): Up to 1/3 of the total credit
- Senior Bank Loan: At least 2/3 of the total credit
The Cap Hospitality offer can be combined with other financing or subsidy programs provided by the state, such as GO SIYAHA by Maroc PME, allowing businesses to access additional funding for their projects.
Benefits for hoteliers
The Cap Hospitality by BOA program offers several competitive advantages for hoteliers:
- Favorable financing conditions, including advantageous interest rates, long loan maturity, and payment deferrals.
- No study fees are charged for the subordinated debt.
- The junior credit offers a repayment term three years longer than the senior bank loan.
- Capital deferrals on the junior credit can be up to twice as long as those on the bank loan.
- The senior bank loan may qualify for a guarantee from Damane Istitmar, provided by Tamwilcom.
- The state reimburses the EHTC for VAT-inclusive interest payments on the joint credit for the entire duration of the loan.
This strategic partnership further solidifies Bank of Africa’s role as a key player in realizing Morocco’s economic ambitions by providing businesses with financing solutions that align with their growth objectives.
