Enabling diversification and digital advancements

Member presentation and their challenges 
 
Our partner has been a cornerstone of the Morocco's agricultural sector since its inception. Primarily serving farmers, the bank is deeply committed to financing agriculture, agri-business, and promoting rural development. However, their high concentration of business in a single sector has raised concerns. They turned to Qorus with two major challenges: how to diversify their business beyond agriculture to ensure profitability, and how to digitize their services for farmers who typically only use mobile phones. 
 
Solutions (pillars) implemented 
 
To address these challenges, Qorus facilitated connections with similar institutions worldwide. Leveraging the SME community team, our member was able to engage with other Qorus members in South Africa, Brazil, and Spain. These banks faced similar challenges, leading to the formation of a leader roundtable or think tank, allowing for 1-2 meetings per year to share insights and experiences. 
 
The primary focus was to gather global best practices and real-world experiences to aid in decision-making. Qorus organized sessions to explore diversified banking models, innovative technological solutions, and effective strategies for engaging digitally with agricultural clients. 
 
Results achieved 
 
The unique insights provided by other Qorus members have been instrumental in helping the bank to reassess the risks associated with their portfolio. By understanding how other banks manage diversification and digitization, they are currently reevaluating their business model to better address risks related to climate change, water scarcity, rainfall fluctuations, and regulatory pressures.  
 
Collaboration next steps 
 
Looking forward, our member plans to continue engaging in member-to-member activities to support new strategic initiatives. They aim to stay immersed in global best practices through Qorus' content, online events, and continuous peer-to-peer learning. The bank is particularly interested in connecting with leaders from banks that have undergone similar transformations, focusing on client profiles, financing strategies for small and medium-sized agricultural clients, service channels, the impact of technology, and innovative business models.