African Development Bank grants donation to Bank Al-Maghrib to boost digital payments

Friday 06 February 2026 - 12:15

By: Sahili Aya

African Development Bank grants donation to Bank Al-Maghrib to boost digital payments

The African Development Bank (AfDB), through its African Digital Financial Inclusion Fund (ADFI), has granted a $510,000 donation to Bank Al-Maghrib (BAM) to support the expansion of digital payments in Morocco. The funding is aimed at promoting broader adoption of electronic payments, enhancing financial inclusion, and reducing reliance on cash, the AfDB said in a statement.

This contribution complements resources already mobilized by BAM to develop the Electronic Payments Acceptance Fund, designed to encourage merchants to adopt digital payment solutions. The initiative is part of Morocco’s National Digital Payments Development Strategy, which focuses on promoting digital transactions, reducing cash dependency, and supporting a transition to a more inclusive digital economy.

Achraf Tarsim, head of the AfDB country office in Morocco, stated that the agreement will expand access to financial services for individuals and businesses while strengthening the national payments ecosystem. “It lays the foundation for a sustainable and inclusive digital economy,” he added.

BAM’s Director General, Abderrahim Bouazza, emphasized that the fund serves as a key lever to accelerate the adoption of electronic payments in the country. Support from international partners, including the AfDB through the ADFI, reinforces Morocco’s national efforts to leverage digital payments for economic and social inclusion.

The African Digital Financial Inclusion Fund, hosted by the AfDB since 2019, supports strategic initiatives in digital financial infrastructure, policy and regulation, and product innovation, with cross-cutting priorities including women’s inclusion and capacity building. Current ADFI partners include the French Development Agency (AFD), the AfDB Group, the Gates Foundation, Luxembourg, France, and India.

Since 1978, the AfDB Group has mobilized nearly €15 billion to finance over 150 projects in Morocco, covering strategic sectors such as transport, social protection, water and sanitation, energy, agriculture, governance, and financial services.