Silatech, a Qatar-based social enterprise that seeks to promote youth entrepreneurship and employment in Arab countries, recently announced seven new partnerships in an effort to support small and medium-sized enterprises (SMEs) and youth in Morocco. Silatech’s new partners are Macroinvest, a Moroccan private equity investment firm; Jaida, a private fund aimed at refinancing microfinance institutions (MFIs) in Morocco; Afif, a nonprofit development program launched by the Qatar-based Al Asmakh Charity Foundation; the Agence Nationale de Promotion de I’Emploi et des Competences (ANAPEC), the Moroccan national employment agency; the International Youth Foundation (IYF), a US-based charity aiming to improve the lives of young people worldwide; and the Moroccan Ministry of Tourism.
Silatech will provide an unspecified amount of monetary support to Macroinvest’s new USD 53 million Petites et Moyennes Entreprises Croissance Fund that serves small and medium-sized enterprises (SMEs) in Morocco. According to Silatech, this fund will not only contribute “capital as well as complementary business support services to fund SMEs in Morocco,” but also “generate thousands of job opportunities over a 12-year investment period.” [1] Financial information on Macroinvest is not available.
Additionally, Silatech signed an agreement with Afif and Jaida to jointly develop a pilot Youth Finance Facility that will provide funds and technical assistance to incentivize MFIs in Morocco to increase lending to young people. [1] The firms do not report to the US-based nonprofit Microfinance Information Exchange (MIX), and financial information is not otherwise available.
Silatech also partnered with the Moroccan Ministry of Tourism and IYF to strengthen IYF’s “Emploi Habilité” program, which provides assistance for young Moroccans seeking jobs in the tourism sector. The nature of Silatech’s contribution to Emploi Habilité is unavailable. According to Silatech, Emploi Habilité will support “an additional 900 young Moroccans undergoing training at the Ministry’s vocational training centers (CFAs) over the next 12-18 months.” [1]
Finally, Silatech signed an agreement with ANAPEC to implement Silatech’s Tamheed career guidance and counseling system, which is intended to improve the screening and career orientation process for young job seekers in Morocco. Since 2010, Silatech has provided technical assistance and capacity building to ANAPEC, as well as language assessments linking job seekers to advanced training and employment opportunities for which French or English skills are required. [1]
Silatech operates in Iraq, Jordan, Lebanon, Morocco, Palestine and Yemen. Its operations in Syria are on hold as of 2013. As of the same year, Silatech has raised approximately USD 35 million in co-funding for its microenterprise programs. [1]
By Michael Averell, Research Associate
About Silatech
Founded in 2008, Silatech is a Qatar-based social enterprise aiming to increase employment and entrepreneurship among youth in the Middle East and North Africa. Silatech operates in Iraq, Jordan, Lebanon, Morocco, Palestine and Yemen. Its operations in Syria are on hold as of 2013. As of the same year, Silatech has raised approximately USD 35 million in co-funding for its microenterprise programs.
About Jaida
Jaida, a non-bank financial institution that provides debt funding to Moroccan microfinance institutions, was established in 2006 by KfW Entwicklungsbank, a branch of the German commercial bank KfW Bankengruppe. Acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), Jaida was created in conjunction with the Caisse de Dépôt et de Gestion (CDG), a Moroccan public financial institution; the Agence Française de Développement (AFD), the French Development Agency; and the French Caisse de Dépôt et de Consignation (CDC), a French state-owned financial institution. Jaida does not report to the US-based nonprofit Microfinance Information Exchange (MIX), and financial information on the firm is not otherwise available.
Sources and Additional Resources
Silatech: “Silatech, Partners Strengthen Support for Moroccan Youth,” http://www.silatech.com/home/news-events/silatech-news/silatech-news-details/2013/06/09/silatech-partners-strengthen-support-for-moroccan-youth
MicroCapital story, February 26, 2013, “MICROCAPITAL BRIEF: Silatech, American Refugee Committee (ARC), Kaah Express to Offer Microfinance in Somalia,” https://www.microcapital.org/microcapital-brief-silatech-american-refugee-committee-arc-kaah-express-to-offer-microfinance-in-somalia/
MicroCapital story, January 4, 2013, “MICROCAPITAL BRIEF: Silatech Sponsors Financial Literacy Training Courses Expected to Benefit 1,000 Credit Officers in Sudan,” https://www.microcapital.org/microcapital-brief-silatech-sponsors-financial-literacy-training-course-expected-to-benefit-1000-credit-officers-in-sudan/
MicroCapital story, October 25, 2007, “MICROCAPITAL STORY: Morocco and Millennium Challenge Corporation (MCC) sign $697.5m Compact, JAIDA and Other Microfinance Programs to Receive $46.2m,” https://www.microcapital.org/microcapital-story-morocco-and-millennium-challenge-corporation-mcc-sign-6975m-compact-jaida-and-other-microfinance-programs-to-receive-462m/
MicroCapital Universe Profile: Silatech https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Silatech
MicroCapital Universe Profile: Jaida https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Jaida
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