Mobile money usage in Morocco remains limited, with only 12% of the population holding a mobile-money account, placing the country among the lowest adopters of mobile financial services in Africa, according to a new report by Afrobarometer. The figure mirrors Tunisia’s adoption rate and contrasts sharply with markets such as Kenya, Ghana, and Gabon, where usage exceeds 85%.
Afrobarometer attributed Morocco’s low uptake to several structural factors, including strong reliance on traditional banking, regulatory and ecosystem constraints that have slowed the expansion of mobile wallets, and persistent digital divides affecting rural communities, women, and lower-income groups.
The report warned that weak mobile-money adoption could hinder broader financial inclusion, particularly for young people and informal workers. In many African markets, mobile platforms have served as a primary gateway to payments, savings, and transfers without the need for physical bank branches.
Despite government-led digital banking initiatives, Moroccans continue to rely heavily on cash. Data from Bank Al Maghrib shows cash payments reached 402 million transactions in 2023, up from 360 million the previous year, while cash withdrawals increased by 12%, underscoring the challenge of shifting toward digital payments.
