Crowdfunding is a method of financing that takes place via online platforms that directly connect project leaders and contributors. It generally takes three forms: loans, capital investment, and donations.
In Morocco, this practice has long evolved in a regulatory gray area, particularly through mechanisms designed solely for associations, or through foreign-based platforms mobilizing international funds for local investments. However, since the adoption of Law No. 15-18 on collaborative financing in 2021, a legal framework has been established to govern these activities, with additional provisions specified by ministerial decrees.
In order to monitor the evolution of crowdfunding and guide policy decisions as well as the involvement of private operators and the general public in this new mode of financing, Happy Smala has been monitoring crowdfunding activities in Morocco since 2014. The results of this monitoring, “The Crowdfunding Barometer in Morocco,” is now in its third edition.
The 2021-2023 Crowdfunding Barometer for Morocco has been created thanks to the “Impact Together!” program, in partnership with Impact Europe and funded by the European Union. This edition aims not only to provide an overview of developments in crowdfunding, but also places a particular focus on its use in providing critical aid to victims of the earthquake in the Al Haouz region in September 2023.
To find out more about the study, please consult the Crowdfunding Barometer in Morocco 2021-2023.
Working team:
- Written by: Mehdi Masmoudi - happy smala
- Edited by: Oumelghit Guelzim, Eric Asmar, and Mounia Essafoui - happy smala