New partnerships aim to boost Morocco’s digital finance sector

Details: Vaughan O'Grady; Category: Mobile Finance; 13 April 2026; 3933 views

Two partnerships, both announced at GITEX Africa Morocco 2026, are aimed at improve digital financial services and strengthening financial inclusion within Morocco.

In one of the agreements, payments provider Damane Cash has teamed up with ZTE Corporation to improve digital financial services and make mobile payments easier to use.

The partership will upgrade Damane Cash’s systems using artificial intelligence, cloud technology and telecom expertise. The main focus is improving the M-Wallet app so transactions are faster and more secure.

The goal is to help more people across Morocco access digital financial services, especially in remote areas. The companies plan to combine ZTE’s technology with Damane Cash’s wide network of branches to reach more users.

Mobile wallets are a key part of Morocco’s push to bring more people into the formal financial system. They allow users to send money, pay bills and shop using a phone, but trust and connectivity have slowed adoption. ZTE will work on improving network performance to make services more reliable.

Meanwhile, Money Fellows, a mobile app for the community-based savings systems known as money circles, and financial services company Wafacash have announced the signing of a strategic partnership to develop the traditional savings circles practice known in Morocco as Daret, transforming it into a secure and regulated digital model.

This comes after obtaining all the necessary regulatory approvals from Bank Al-Maghrib.

In money circles members contribute money periodically and take turns receiving a lump sum; the system is aimed at goal-based saving without traditional bank lenders.

This step follows the success achieved by Money Fellows in the Egyptian market, where the company has successfully served more than one million users and built an extensive network of over 350 local and regional partners.

A key aspect of this collaboration is strengthening financial inclusion by financially empowering individuals through transforming and developing existing saving practices rather than replacing them, ensuring broader access to services across Moroccan society.

The partnership also aims to enhance security and reliability through digital management mechanisms, scoring systems, and digitisation, which will transform Daret into a system characterised by high transparency and a greater ability to manage commitments effectively.

This partnership is based on the deep integration between Money Fellows’ technological expertise and Wafacash’s strong infrastructure, distribution network and customer proximity. The partners say that this synergy enables the delivery of a financial solution that meets user needs and is capable of scaling widely.