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Société Générale Maroc has undergone a significant transition with its acquisition by the Saham Group, marking the end of Société Générale's presence in Morocco. Despite a 41.61% drop in net income to 795 million dirhams due to exceptional charges, the bank reported strong business activity, with deposits rising by 8.94% to 80.1 billion dirhams and outstanding loans at 93.9 billion dirhams. The bank maintains robust prudential ratios, positioning itself for future growth under new ownership.
Société Générale Maroc, in collaboration with IBM and PowerM, is modernizing its infrastructure by adopting a microservices architecture, which enhances digital service reliability and accelerates innovation. This transformation aims to improve customer engagement and streamline IT management through better observability and security. The integration of IBM Cloud Pak solutions is pivotal in enabling the bank to develop new APIs and dynamic digital services, positioning it as a forward-thinking institution ready to meet evolving market demands.
Mediterrania Capital IV has secured an additional $16.3 million from DEG, increasing its total investment to $27 million. This funding will enhance the fund's operational reach and support its strategy of investing in mid-sized companies across North and West Africa, focusing on sectors like healthcare and fintech. The fund has already made significant investments in Moroccan companies, including Laprophan and Cash Plus, reflecting its commitment to fostering growth in the region.
Barclays has raised Veolia Environnement's price target, citing increased valuation potential in Europe. The company, a global leader in environmental management, generates net sales primarily from water-related services (40.4%), waste management (35%), and energy services (24.6%). Geographically, its sales are concentrated in France (19.7%), the U.S. (10.9%), and several European countries, among others.
The UK has lifted import restrictions on animals and animal products from Germany, allowing fresh meat and meat products to be exported again following the foot-and-mouth disease outbreak. Federal Agriculture Minister Cem Özdemir praised the swift actions taken to combat the disease, marking a significant reopening of a key export market for Germany's agricultural sector. This decision follows similar moves by Morocco and the reopening of markets in China and Malaysia for heat-treated dairy products.
African startup funding dropped sharply from 406 in 2023 to 200 in 2024, marking a second consecutive year of decline amid a global capital shortage. Despite this downturn, the "Big Four" tech hubs—Nigeria, Egypt, Kenya, and South Africa—continued to attract the majority of investments, while fintech funding also saw a decline. However, signs of recovery emerged in late 2024 and early 2025, offering hope for improved funding prospects.
UAE-based fintech startup Klaim has raised $26 million to enhance healthcare payment processes, including $10 million in Series A equity and $16 million in debt financing. Founded in 2019, Klaim's AI-driven platform aims to resolve delayed insurance claim payments, allowing providers to receive funds within 24 hours. With this funding, the company plans to expand in the MENA region, particularly in Saudi Arabia and Oman, while strengthening partnerships across the healthcare sector.
GITEX Africa Morocco 2025, set for April 14-16 in Marrakech, will be the continent's largest tech event, showcasing innovations across AI, fintech, and more. With over 1,400 exhibitors from 130+ countries, it aims to drive Africa's digital transformation and economic growth, emphasizing sustainability and inclusivity. The event will feature high-level discussions, specialized summits, and initiatives like the Africa Future Connectivity Summit and Diaspora Studio, fostering collaboration between local and global innovators.
AliExpress has expanded its local payment options across several African countries, allowing shoppers in Egypt, South Africa, Algeria, Ethiopia, Morocco, and Tanzania to transact in their national currencies. This initiative aims to enhance cross-border e-commerce by reducing transaction friction and improving payment security. The expansion coincides with a major promotional event and is part of AliExpress's broader efforts to improve logistics and customer experience in Africa.
BVS, a new venture studio in Morocco, has launched in Casablanca Finance City to accelerate high-potential startups by integrating strategy, finance, and innovation. Beyond funding, it offers branding, financial structuring, and operational support, aiming to connect local entrepreneurs with global investors for sustainable growth. BVS has initiated three innovative projects, focusing on developing business models and strategies aligned with market needs.
MAR
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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