General information

Population

38.2M

Online population

34.4M

Currency

MAD

Market overview

Population - 38.2M

At the start of 2024, 65.4% of Morocco’s population lived in urban centres, while 34.6% lived in rural areas.

Internet penetration - 90.7%

There were 34.4M internet users in Morocco at the start of 2024.

FinTech Outlook: Trends, Insight & Technology

There are 150 FinTechs in Morocco.

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Morocco FinTech Accelerator The **Morocco FinTech Accelerator (MFA)** program by UM6P , is the first university incubator and accelerator dedicated to FinTech in Morocco. The MFA program allows project leaders to acquire the essential entrepreneurial skills for the creation of tomorrow's FinTech in addition to a direct connection with a very dense network composed of professors, expert mentors, partner financial institutions and investors in just three months! The MFA program is aimed at early-stage, high-growth, innovation-driven startups. Startups are selected through a rigorous internal process based on the novelty of the idea, scalability and commercial potential as well as the team's cohesion, tenacity and commitment to the success of the project.

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Banks

By the end of 2023, the number of credit institutions and similar organizations approved in Morocco will stand at 88 establishments, including: 19 banks, 5 participatory banks, 29 finance companies. Morocco’s banking sector has proven its resilience and growth potential, as three of its prominent banks - Attijariwafa Bank, BCP Group, and Bank of Africa (BOA) - have secured positions in Forbes Middle East’s 2024 list of the 30 most valuable banks in the Middle East and North Africa (MENA).

Digital banks