The British giant Revolut assaults the Moroccan market

After obtaining a full banking license in the United Kingdom, Revolut is now targeting the Moroccan market. To lead this establishment, the fintech has appointed Yacine Faqir, an expert who has worked for Mastercard and the World Bank. The new CEO is advancing with "conviction but patience", in perfect compliance with the regulatory requirements of Bank Al-Maghrib.

On Bladi.net: Revolut will indeed arrive in Morocco

The potential of the kingdom attracts the digital bank with 70 million customers. Yacine Faqir identifies a technological "momentum" in Morocco, while highlighting significant room for progress. According to Jeune Afrique, the rate of bank account ownership reached only 58% at the end of 2024.

The equipment in payment terminals remains a major challenge for national financial inclusion. The country has about 40,000 active terminals for 37 million inhabitants, while Saudi Arabia has one million for an equivalent population. The challenge for Revolut is to promote the daily use of digital financial products among a population that is still underequipped.

On Bladi.net: Why Revolut could disrupt the Moroccan banking sector

The fintech plans to invest 11.5 billion euros over five years to reach 100 million global users. Yacine Faqir’s background, former Vice President at Mastercard, is seen by the sector as a positive signal for the group’s establishment. He considers Morocco as a strategic base for business in Africa, taking advantage of the current economic acceleration.