CDG — Morocco's Deposit and Management Fund

A plain-language guide to CDG, Morocco's public financial institution managing regulated savings and long-term investment.

Founded: 1959 · Supervision: Under supervision of the Ministry of Economy and Finance · Last updated 2026-04-18

The Caisse de dépôt et de gestion (CDG) is a Moroccan public financial institution founded in 1959, modelled on France’s Caisse des dépôts et consignations. It safeguards and invests regulated and institutional savings, and acts as a long-term investor for Morocco’s economic development.

Role

  • Protection of regulated savings — notaries’ deposits, CNRA, RCAR and other statutory funds.
  • Institutional investor — financial placements and strategic equity stakes.
  • Territorial development via CDG Développement and its subsidiaries (urban planning, real estate, tourism, infrastructure).
  • Retirement and pensions — oversees the RCAR collective retirement scheme and the CNRA.

CDG Group

The Group is one of Morocco’s largest economic conglomerates, with entities in:

  • Urban and tourism development (CDG Développement, Casa-Anfa, Nouvelle Ville Zenata);
  • Finance (CIH Bank, Fipar-Holding, CDG Capital);
  • Tourism (Madaef);
  • Infrastructure and services;
  • Social provision (RCAR, CNRA).

Employment footprint

Through its subsidiaries, CDG is a significant direct employer in banking, urban planning, financial advisory and public services. Its development projects generate substantial indirect employment as well.

Sources

← Back to the glossary