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Fas Panorama

Fas Panorama

Corporate payment habits and the proportion of overdue payments they record are a good indicator of the health of an economy. Longer payment terms are an indicator not only of a company’s poor financial health but are also likely to have a knock-on effect on all its suppliers. In 2011, Morocco introduced regulation setting out the rules for payment deadlines in order to harmonise company practices in this area. However, there are no studies providing an overview of these practices. After initiating payment surveys in 2003 for China and seven other Asian countries, Coface now intends to replicate this for Morocco. This publication is in three parts. First, we set out the background to the survey conducted. In the second section we provide an overview of payment practices. Finally, we conclude the study with the respondents’ view of Morocco’s economic prospects. 


This first published survey of company payment periods is based on a survey of a voluntary sample of Moroccan businesses, invited to take part electronically. The questionnaire was organised around three key themes. The first relates to company payment practices. The second is concerned with the ayment periods observed by the companies. The third and last serie of questions asks for their views on the Moroccan economy.


Out of a total of 3000 questionnaires sent, 307 companies responded to the survey, giving a return rate close to 10%.


The number of respondents means we were able to cover all activity sectors across the economic fabric. The most represented sectors in the study are, in order of importance: the processing industries, trade and distribution and construction. The sample also includes companies of all sizes. Of the 307 respondents, 30.6% are businesses with fewer than 20 employees, 36.4% businesses with between 20 and 100 employees and 25% of the businesses had between 100 and 500 employees. The rest of the sample, i.e. less than 7%, is comprised of large and very large structures with employee numbers in excess of 500.


The companies in our sample are mostly present on the domestic market. 61.5% of the surveyed companies operate only on the Moroccan market. 31.9% are present on the Moroccan market and export to the rest of the world. Finally, fewer than 7% of respondents focus exclusively on exporting. These dynamics are also reflected in export turnover where 70% of the surveyed companies stated that the share of exports in their business activity was under 25%.


Breaking down the sample into exporting companies and local companies gives us a reasonably representative overview of local payment practices in Morocco. We have been careful to include companies regardless of their destination market(s), so as to be able to compare the differences in payment practice between the export and domestic markets

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