While Morocco saw dynamic demand for consumer lending immediately post-pandemic as retailers and foodservice outlets reopened their doors to consumers, from September 2022 the market has been impacted by soaring prices impacting purchasing power across households. This trend has intensified with rising interest rates and as a result, the demand for consumer lending facilities has become subdued, while repayment trends exhibited longer periods of more than five years.
In December 2022, Morocco’s consumer confidence index dropped dramatically to its lowest point since records began in 2008. The country’s mood is considered to be increasingly influenced by social media content, which is for the most part driven by political parties.
In April 2023 Morocco’s average mortgage rate stood at 4.57%, stable on the previous month.
In 2023 Morocco is seeing rising demand for loans designed to facilitate the acquisition of second-hand vehicles. Eqdom, a key player as well as a subsidiary of French banking group Societe Generale and leading consumer lending company in Morocco, has launched a digital platform named Vivacar to meet this growing demand.
Morocco’s economic growth is forecast to accelerate by the end of 2023, according to the World Bank, notably thanks to a rebound in the primary sector. In fact, some reports allude to Morocco potentially seeing inflation ease, provided that more rainfall allows for improved agricultural output.
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Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Morocco with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
See All of Our DefinitionsThis report originates from Passport, our Consumer Lending research and analysis database.
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