About PREVAS Group and PREVAS A.C.C. (Assurance Crédit & Conseil)
The insurance and brokerage firm PREVAS Group launches PREVAS A.C.C., a subsidiary 100% dedicated to credit insurance products in Morocco.
PREVAS A.C.C. specializes in the management of credit insurance policies to offer Moroccan companies and the credit insurance market in Morocco a single point of contact and expertise in protection against the commercial risk of default and insolvency.
PREVAS A.C.C. was born from the partnership between Saad Moubaraki, Chairman and CEO of PREVAS Group, and Tawfik Benzakour, former CEO of EULER HERMES Acmar, and now CEO of PREVAS A.C.C.
The goal of PREVAS A.C.C. is to meet the growing demand from companies in Morocco for financial protection against the risk of non-payment of receivables in inter-company business (B2B).
Officially announced at the beginning of September 2020, the creation of this expert subsidiary reflects the ambition of PREVAS Group to contribute significantly to the specialization of the credit insurance market in Morocco. It is also a new step in the development strategy of PREVAS Group, which, since its creation in 2011, has continued to implement innovative and efficient solutions to meet the expectations of its customers.
Our experts intervene with the Credit Insurers on behalf of our clients at all stages of the transactions: both upstream, in the prevention and monitoring of customer risk, and at the time of collection of debts up to the indemnification of the unpaid invoices.
Preventing customer risk also means supporting decision-makers, and by extension, helping a company’s development by allowing it to trade in peace with its various partners and to fully concentrate on its core business. In particular, by outsourcing the management of part or all of the companies’ receivables.
Morocco Economic Overview
The economy of Morocco is considered relatively liberal and is governed by the law of supply and demand. Since 1993, Morocco has followed a policy of privatization of certain economic sectors that used to be in the government’s hands.
In recent years, the Moroccan economy has been characterized by macro-economic stability and low levels of inflation. It remains stable and mainly relies on exports, a boom in private investment, and tourism. However, GDP growth has slowed down since 2014, reaching 2.2% in 2019, against 3% in 2018. The slowdown is mainly due to a volatile agricultural sector and a slow growth in the tertiary sector. However, the non-agricultural growth was equal to 3.4% in 2019, boosting the economy, thanks to the excellent performance of phosphates, chemicals, and textiles.
Why ASTREOS CREDIT
In this global business world, having an international footprint is key to success. It’s crucial to find global partners who understand your prospective clients.
We have the great pleasure to be part of ASTREOS CREDIT, an international Independent Brokers Network that will allow PREVAS A.C.C. not only to collaborate with other member partners but also to provide many opportunities to connect our Network partners with our local clients and to extend our collective capabilities in a rapidly changing global environment.
As a member of ASTREOS Network, PREVAS A.C.C. will work together with all other network members to find the best Credit Insurance Programs for our international and local clients and prospects, providing consistent global and regional credit insurance expertise at every stage of the process.