The Illusion of French Banks’ Return Against Morocco’s Steamroller

The assessment made by Emmanuel Macron in January is unequivocal: "Fifteen years ago, we were a banking and financial power in Africa. Everyone sold out." In 2011, Société Générale established itself as the second-largest banking group in West Africa, while BNP Paribas and BPCE dominated in Cameroon and Morocco. Today, these French giants have massively withdrawn from retail banking. Société Générale disengaged from Benin and Cameroon, and BNP Paribas is preparing its departure from Morocco after leaving West and Central Africa.

On Bladi.net : After Société Générale, another French bank is leaving Morocco

According to Estelle Brack, founder of KiraliT, "the space has been taken by African and Moroccan institutions," as reported by Jeune Afrique magazine. In her view, French banks are subject to profitability constraints and regulations imposed by Basel III and IV. The withdrawal amounts to a strategic choice aimed at preserving margins and limiting risks. The return of French influence through conventional agencies therefore seems entirely illusory.

On Bladi.net : 200 million per project and strict controls: How the Foreign Exchange Office locks down Moroccan expansion

To reconnect with the continent, France must reinvent itself. The mission entrusted to deputy Hervé Berville aims to build a new approach in preparation for the Africa-France summit in May 2026 in Nairobi. Experts recommend targeting high-value-added services: project financing, sovereign debt, international trade, or fintech development. The challenge lies in supporting small and medium-sized enterprises, particularly by leveraging public actors such as the French Development Agency and its subsidiary Proparco, capable of co-financing structuring operations with emerging local banks.