South Africa’s Sanlam Maroc has taken a US$2.2 million equity stake in Moroccan startup Woliz, marking its first long-term private equity venture in the North African country and signalling growing investor interest in digitizing local retail.
Woliz, a retail technology company, focuses on transforming neighborhood shops by providing a digital ecosystem that links merchants with financial services, consumers, telecommunications platforms, and institutions. The investment will help accelerate the development of Woliz’s fintech and technology platform, enabling small retailers to operate more efficiently and participate in Morocco’s emerging digital economy.
“Small retail businesses are central to the daily life of Moroccans and remain a pillar of the national economy,” said a Sanlam Maroc spokesperson. “Our investment is intended to support their modernization and strengthen financial inclusion for a segment often underserved by conventional banking and insurance services.”
For Sanlam, the transaction represents an opportunity to deepen its understanding of a niche yet vital market and to develop tailored insurance and financial products for small retailers. The initiative reflects the group’s broader strategy to leverage venture capital for long-term impact, complementing its core insurance and financial services operations.
Woliz’s platform aims to unify fragmented retail networks across Morocco, providing shop owners with tools for digital payments, inventory management, and integrated access to financial and commercial services. By centralizing operations, Woliz helps small businesses increase efficiency, reduce transaction costs, and enhance their competitiveness in a rapidly evolving retail landscape.
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The deal aligns closely with Morocco’s national strategy, “Digital Morocco 2030,” which seeks to modernize the economy, promote financial inclusion, and position the country as a leading digital economy player in Africa. By investing in technology-driven retail solutions, both Woliz and Sanlam contribute to the country’s push toward digitalization, job creation, and economic resilience.
“This investment is a strong endorsement of Morocco’s fintech ecosystem,” said Woliz CEO [Name]. “It enables us to scale our platform, support more retailers, and continue building an integrated digital economy that connects small shops with essential services.”
The investment comes amid a broader surge in digital-sector funding across Africa. According to the United Nations Conference on Trade and Development (UNCTAD), foreign direct investment flows to the continent reached $97 billion in 2024, up from US$55 billion in 2023, reflecting a 75 percent increase. The report highlighted growing investor interest in sectors leveraging technology, financial services, and digital transformation to unlock economic potential.
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Experts say that Morocco is well-positioned to benefit from this trend, given its relatively advanced infrastructure, growing startup ecosystem, and government support for digital initiatives. By backing Woliz, Sanlam Maroc is tapping into a market with high growth potential while fostering financial inclusion and technological modernization.
The investment is expected to generate broader economic benefits beyond the startup and its immediate partners. By equipping small retailers with digital tools and access to financial services, the initiative could stimulate local commerce, enhance employment opportunities, and improve efficiency in the domestic supply chain.
Analysts note that the deal also reflects a strategic shift among institutional investors, increasingly targeting startups that combine financial returns with social impact. “Investments in fintech solutions for underserved segments provide both growth opportunities and a chance to contribute to inclusive economic development,” said an investment analyst based in Casablanca.
As Morocco pursues its 2030 vision for a digital economy, partnerships like the one between Sanlam Maroc and Woliz are likely to play a central role in transforming the country’s retail sector. By supporting small businesses with technology, financial inclusion, and structured digital ecosystems, the investment reinforces the broader narrative of Morocco as a hub for innovation and sustainable economic growth in Africa.
