2024-07-17 09:45:20
This call for projects from associations with projects promoting socio-professional integration and the empowerment of young people reflects the innovative expression of the civic commitment of Société Générale Maroc, as well as its ambitions in favor of ever more responsible finance.
“We are looking for projects developing professional training programs, developing soft skills to improve the employability of young people and help them launch income-generating activities,” said Latifa el Amrani, director of the Société Générale Maroc Foundation for Solidarity and Culture.
In order to be eligible for this call for projects, the association must be under Moroccan law, have at least two years of accounting existence and must be up to date in its governance, specified Ms. El Amrani.
For his part, Karim El Hnot, CEO of Sogecapital Gestion, said that the idea of the fund is to offer investors a framework allowing them to keep their capital, while distributing dividends, which will be used to finance projects that will be chosen by a group of people independent of the bank “board”, depending on the impact they will have on disadvantaged populations.
The selection of projects will be established in complete independence by the “Social Impact Board”, which will rely on the expertise of the Société Générale Maroc Foundation in the study of applications, the distribution of subsidies being planned for October 25 of the current year.
Projects will be selected based on their relevance and quality, with particular attention paid to projects that offer innovative solutions and are likely to maximize the impact and sustainability of solidarity initiatives.
In addition, these projects should aim to develop the skills of young people (professional training and soft skills), strengthen their employability, as well as the ability to create their own business.
The first open-ended mutual fund (OPCVM) in Morocco with a social and solidarity vocation, the “SG Social Impact Fund” has the particularity of donating all of its dividends to associations carrying out solidarity initiatives.
The objective of the fund is to enable shareholders to subsidize, in the form of donations, non-profit organizations with a social and solidarity vocation in order to support them in carrying out their projects.
At the end of April of the current year, the fund had 10 unitholders, its net assets amounted to 69.3 million dirhams (MDH) with an expected performance of 3% for the year 2023.
Composed of bonds that are not very sensitive to interest rate variations, the “SG Social Impact Fund” protects the capital invested by investors (institutional, corporate or individual) and gives meaning to their investment by implementing projects with a strong societal impact.
The Social Impact Fund is also proving to be a powerful vector for companies keen to boost their CSR approach by contributing to the action of civil society.
By placing financial innovation at the service of civic action, Société Générale Maroc reiterates its firm and unwavering commitment to national causes and the socio-economic development of society as a whole.
Indeed, the “SG Social Impact Fund” embodies the bank’s ambitions and encourages the emergence of an environment conducive to the development of this new ecosystem.
Created in 2021 by Société Générale Maroc, the “SG Social Impact Fund” is a mutual fund, in the monetary category, which distributes its results in part or in full in the form of dividends.
These dividends are fully redistributed to associative structures working for the benefit of disadvantaged populations or those in precarious situations.
2024-07-17 09:45:20