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Coface obtains credit insurance license in Morocco and strengthens its position in Africa

Coface obtains credit insurance license in Morocco and strengthens its leading position in Africa

Present in Morocco since 2007, Coface has now obtained its license for insurance and reinsurance activities from the regulatory authorities.

This means that Coface can directly offer its credit insurance solutions to Moroccan companies. In addition to collection and information services, Moroccan companies will benefit from Coface's expertise in prevention and credit risk protection for their commercial transactions, supported by the largest international credit insurance network.

This new direct offer enhances Coface’s strong presence in Africa, where the Group is already the credit insurer with the largest network of direct offices. Through its local services for customers and its in-depth knowledge of local markets, Coface is strengthening its support for Moroccan enterprises in their commercial development. Coface’s 120 experts located in Morocco, West and Central Africa, are supporting the business growth of companies in both their domestic and international export markets.

"We are focused on Africa, a highly strategic region where Coface is maintaining its leadership: Coface operates in 14 countries in Africa and is consolidating its position as the premier pan-African network.

Morocco is at the heart of our regional ambitions. In a market with high potential, this new license will allow us to be even closer to our customers, to offer them tailor-made solutions for business development that match their requirements – whatever their size. Our recent product innovations - such as CofaMove and soon Easyliner in Morocco - will open up new perspectives to our clients and local prospects for better risk management. Enterprises can also benefit from Coface Global Solutions, a unique structure that is dedicated to multinational companies", commented Jean-Marc Pillu, CEO of Coface.

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Bhavesh PATEL

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