Morocco has launched the Morocco Fintech Center (MFC) as part of its efforts to support fintech startups and foster the growth of its digital economy. The center, created under the Moroccan Ministry of Digital Transition and Administrative Reform, aims to boost the national startup ecosystem by offering regulatory guidance, mentorship, and incubation services.
The MFC is designed to provide crucial support for fintech companies, including business incubation, skills development programs, and assistance with navigating the regulatory landscape. By offering these services, the center aims to help startups secure funding and expand internationally.
Currently hosting around 15 banks and institutions, the association is open to further organizations wishing to join. According to Bank Al-Maghrib, Morocco’s central bank, the MFC will act as a one-stop shop for fintech businesses, providing a dynamic environment for innovation and collaboration.
As part of its Digital 2030 strategy, Morocco plans to support the creation of 1,000 certified startups by 2026 and 3,000 by 2030. This is a significant increase from the 380 startups supported in 2022. Additionally, the government aims to raise $696.6 million for local startups by 2030, with hopes of nurturing 10 high-growth startups and one or two unicorns by the end of the decade.
