HEC-Ecole de gestion de l'Université de Liège
HEC-Ecole de gestion de l'Université de Liège

Crowdfunding: A new Era of Fundraising. The case of Morocco.

Habachi, Nouhaila ULiège
Promotor(s) : Bils, Anne ULiège
Date of defense : 5-Sep-2022/10-Sep-2022 • Permalink :
Title : Crowdfunding: A new Era of Fundraising. The case of Morocco.
Translated title : [fr] Le crowdfunding : Une nouvelle Ere de Financement. Le cas du Maroc
Author : Habachi, Nouhaila ULiège
Date of defense  : 5-Sep-2022/10-Sep-2022
Advisor(s) : Bils, Anne ULiège
Committee's member(s) : Dethier, Fanny ULiège
Language : English
Number of pages : 72
Keywords : [en] Crowdfunding,
[en] Traditional Financing
[en] Fundraising
[en] Entrepreneurs
[en] Morocco
[en] Digitalization
[en] Platforms
[en] Investors
[en] Bank Loans
Discipline(s) : Business & economic sciences > Finance
Complementary URL :
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en Financial Analysis and Audit
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège


[en] Financing a project in its seed phase has always been a hurdle for entrepreneurs, as they cannot secure funds using conventional methods because of their lack of creditworthiness proof or project success guarantee. Therefore, crowdfunding started to evolve as more entrepreneurs began to make a call for public generosity to help them finance their ideas and initiatives.
The current study focuses on the Moroccan framework. It aims to explore the potential of participatory financing in Moroccan kingdom and to identify the factors that support or hinder its evolution.
We conducted interviews with various Moroccan entrepreneurs who have opted for one of the two financing options to analyze their experiences and thus conclude the drivers and barriers of
crowdfunding in Morocco.
The findings of our study show that crowdfunding has potential in Moroccan framework since the
barriers mentioned in the literature have become opportunities. In other words, in the last few years, Morocco has been working on the evolution of this mode of financing and its results have already manifested: The new law n°15.18 and the authorization of electronic payment. And we can assume that from now on, more actions will be taken.



Access Thesis - Nouhaila HABACHI (S204162).pdf
Size: 2.08 MB
Format: Adobe PDF


  • Habachi, Nouhaila ULiège Université de Liège > Master sc. gest., à fin.


Committee's member(s)

  • Total number of views 46
  • Total number of downloads 8

All documents available on MatheO are protected by copyright and subject to the usual rules for fair use.
The University of Liège does not guarantee the scientific quality of these students' works or the accuracy of all the information they contain.