Morocco

The popularity of store cards was already in decline during the review period. Among the main reasons for this is that many local consumers struggle to see the advantages that these cards offer or, alternatively, they understand the advantages but do…

There are no open-loop pre-paid cards in Morocco, and the number of closed-loop pre-paid cards (and the value of transactions made using them) was in decline even before the onset of the pandemic. The increased use of debit cards was the main driver…

Morocco’s commitment and investments in financial inclusion are paying off, with the nation having recorded double-digit growth in account ownership since 2017; this makes Morocco one of only four countries worldwide to achieve this. According to the…

Driven by population growth and continued urbanisation, the number of debit cards in Morocco continues to soar. Traditionally, local consumers show a strong preference for using debit cards thanks to the safety and reliability of paying with existing…

Morocco is a country heavily reliant on cash, with consumers historically favouring debit cards to any other types of financial cards; standard credit cards continue to suffer from a negative perception among locals for several reasons. The demand…

While Morocco saw dynamic demand for consumer lending immediately post-pandemic as retailers and foodservice outlets reopened their doors to consumers, from September 2022 the market has been impacted by soaring prices impacting purchasing power…

Morocco’s latest unemployment data exhibits a rise to almost 13% in the first three months of 2023, from just over 12% over the same period last year, as the farming sector shrunk due to the worst drought in decades, directly affecting the sector’s…

The number of charge cards in circulation in Morocco is rising thanks mainly to population growth, urbanisation and the rising share of the banked population. The convenience of interest-free deferred payments - the core feature of charge cards - is…