Morocco moves to back gaming studios with millions of dirhams in funding

Morocco is stepping up support for its gaming industry as authorities seek to turn local studios into the country’s first tech «unicorns» and boost revenues from the creative economy.

According to Bloomberg, the state-backed credit guarantee agency Tamwilcom is set to sign financing agreements this week with three Moroccan gaming studios, each expected to receive backing worth «millions of dirhams», according to Minister of Youth, Culture and Communication Mohammed Mehdi Bensaid.

«Gaming startups are now eligible for Tamwilcom support just like other Moroccan firms», Bensaid said on the sidelines of a gaming exhibition in Rabat. «Gaming is what will allow Morocco to have its first unicorns».

Morocco aims to grow the local gaming sector’s annual revenue from around $200 million currently to $3 billion by 2032. Authorities also expect one or two Moroccan gaming firms to reach unicorn status, companies valued at more than $1 billion, within the same timeframe.

Bensaid said the state intervention was necessary because private capital in Morocco often avoids high-risk investments and seeks quick returns. «That’s where Tamwilcom comes in, as it allows us to de-risk funding by banks for gaming startup», he said.

Among the companies highlighted is June Studio, founded in 2023 by Ilias Belabed. The studio is currently developing two games and is seeking around $757,400 in funding. One of its projects, «Exploitation: Corporate Greed», reportedly received praise from Crown Prince Moulay El Hassan during the opening of the gaming conference in Rabat.