The African Development Bank (AfDB) has awarded a US$510,000 grant to Morocco to support the Fund for the Development of Electronic Payment Acceptance, established by Bank Al-Maghrib (BAM), as the country accelerates its transition to a digital economy.
The donation, provided through AfDB’s African Digital Financial Inclusion Facility (ADFI), aims to encourage merchants to adopt electronic payments, reduce reliance on cash, and broaden access to financial services for individuals and businesses, the bank said.
AfDB Country Manager in Morocco, Achraf Tarsim, said the funding would strengthen the national payments ecosystem and lay the groundwork for an inclusive and sustainable digital economy. “This agreement will help expand financial services access for both individuals and merchants while reinforcing the overall digital payments infrastructure,” he said.
BAM Director General Abderrahim Bouazza welcomed the support, describing the fund as a “structural lever” to accelerate the adoption of electronic payments across the country. He added that collaboration with international partners like AfDB complements Morocco’s own resources and underscores the government’s commitment to financial inclusion.
The initiative forms part of Morocco’s Digital Payments Development Strategy, which seeks to modernize the national payment system and encourage widespread adoption of electronic transactions. In November 2025, BAM reported a marked shift in the country’s payments landscape, pointing to a steady move toward digital solutions.
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A recent study by Visa, conducted in October 2025, highlighted the growing popularity of electronic payments in Morocco. According to the survey, 97 percent of Moroccans take active steps to secure online transactions, and about 74% expect to use digital payments more frequently over the next 12 months, signaling a clear upward trend.
Observers say Morocco’s adoption of digital payments is part of a broader regional push to modernize financial systems and promote economic inclusion, particularly for small and medium-sized enterprises that previously relied heavily on cash transactions.
By combining AfDB funding with national resources, Morocco aims to strengthen both infrastructure and public confidence in digital payments, positioning the country as a leader in North Africa’s financial technology sector.
