Moroccan e-payment firm S2M sets to get €2mn loan from EBRD

London-headquartered European Bank for Reconstruction and Development has recently made an announcement that the global financial institution has approved a two-million-euro loan to Société Maghrebine de Monétique (S2M), a Moroccan firm that develops e-payments systems.

The loan will enable the Moroccan firm to strengthen its competitiveness and augment employment opportunities for young people with on-the-job-training programs. The company specializes in the publishing and integration of electronic payment solutions, the customization of payment methods (cards, checks), desktop publishing (Enclosed), as well as the marketing and maintenance of electronic payment terminals. S2M is currently present in 35 countries in Africa, Asia, Europe and Oceania.

Under the Bank's Blue Ribbon program, the funds from the European Bank for Reconstruction and Development (EBRD) will further support the growth and development of the Moroccan company. The Program provides finance and business advice specifically for firms that stand out for their market leadership and high-growth potential. It currently includes 47 companies in 26 countries where the Bank invests.

The EBRD's financial support will also help raise the S2M's competitiveness, including via the development of a marketing strategy, and aims to provide employment opportunities for young people with on-the-job-training programs with funding from Italy through the Small Business Impact Fund (Italy, Japan, South Korea, Luxembourg, Sweden, Switzerland, Taipei China and the USA), as reported by The North Africa Post.

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