AfDB Awards $510,000 Grant to Boost Digital Payments in Morocco

The grant complements resources already mobilized by Bank Al-Maghrib to establish the fund, which is designed to encourage merchants across Morocco to adopt electronic payment systems.

The African Development Bank Group (AfDB), through its Africa Digital Financial Inclusion Facility (ADFI), has awarded a $510,000 grant to Morocco’s Electronic Payments Acceptance Development Fund, an initiative established by Bank Al-Maghrib, the country’s central bank.

The funding is aimed at accelerating the adoption of electronic payments, expanding financial inclusion, and reducing Morocco’s reliance on cash as the country advances its transition toward a more digital economy.

Supporting Morocco’s Shift Away from Cash

The grant complements resources already mobilized by Bank Al-Maghrib to establish the fund, which is designed to encourage merchants across Morocco to adopt electronic payment systems.

By increasing acceptance infrastructure at the point of sale, the initiative seeks to:

• Promote wider use of digital payments

• Reduce dependence on cash transactions

• Strengthen the national payment ecosystem

• Expand access to formal financial services

The program is part of Morocco’s broader Digital Payments Development Strategy, which focuses on digitizing transactions and modernizing the country’s financial system.

Expanding Financial Inclusion for Merchants and Households

AfDB officials said the partnership will help improve access to secure and affordable payment services, particularly for small businesses and underserved populations.

“This agreement will help expand access to financial services for the population and merchants and strengthen the national payment ecosystem,” said Achraf Tarsim, head of the African Development Bank’s country office in Morocco.

He added that the initiative consolidates the foundations for “an inclusive and sustainable digital economy.”

Central Bank Sees Electronic Payments as Structural Lever

Bank Al-Maghrib described the Electronic Payments Acceptance Development Fund as a key mechanism for scaling electronic transactions nationwide.

“The Acquisition Fund is a structural lever for accelerating the adoption of electronic payments in Morocco,” said Abderrahim Bouazza, Director General of Bank Al-Maghrib.

“The support of international partners, including the African Development Bank through ADFI, reinforces a national initiative to promote the use of electronic payments for economic and social inclusion.”

Longstanding AfDB Partnership in Morocco

The grant adds to AfDB’s extensive development engagement in Morocco. Since 1978, the African Development Bank Group has mobilized nearly €15 billion to support more than 150 projects and programs across strategic sectors including:

• Transport infrastructure

• Social protection

• Water and sanitation

• Energy transition

• Agriculture

• Governance reforms

• Financial sector development

AfDB says the latest support reflects its commitment to advancing digital financial inclusion as a driver of economic opportunity and sustainable growth across Africa.