Launching a New Era of Crowdfunding in Morocco: Lessons from the First Post-Law Campaign

Abstract

Crowdfunding in Morocco has experienced significant growth since the adoption of Law 15-18, which established the first clear and secure regulatory framework for this new form of financing. This legal framework has enabled the emergence of the first licensed platforms in Morocco. At the same time, citizen solidarity has proven to be a key driver of campaign success, reflecting a collective dynamic of support for entrepreneurial and social initiatives.

Through the single case study of the first Moroccan project funded on the first approved crowdfunding platform in Morocco, this article analyzes the key factors behind the sector’s launch and success. It highlights crucial elements such as regulation and citizen engagement while identifying the role of platforms in this matter.

Our qualitative data is derived from a series of semi-structured interviews with the co-founder of the platform, the project manager of the project campaign, and fifteen donors who participated in the funding. These data were analyzed using a thematic approach, allowing the identification of key trends and the extraction of relevant insights on emerging crowdfunding practices in the Moroccan context:

To the best of our knowledge, our exploratory study is the first to focus on the new generation of crowdfunding platforms and campaigns in Morocco following the recent regulatory framework. It provides valuable recommendations for project holders, platforms, and policymakers while highlighting the key success factors and main challenges for the development of this innovative financing model in the country.

Classification JEL: G41, K20

Paper type: Empirical Research