🇲🇦MoroccoNorth Africa
Moroccan banks face major transformations driven by digital and competition, KPMG reports
via Le Matin3 min read
The Moroccan banking sector is undergoing a structural reorganisation, influenced by economic, technological, and competitive changes that challenge traditional retail banking models. This evolution occurs amid the gradual withdrawal of some international players, consolidation around national banking groups, and the emergence of new technological entrants, according to KPMG in Morocco. Mohammed Berrada, Advisory Director in charge of Financial Services at KPMG in Morocco, states that the sector is at a structural turning point, requiring increased adaptability from institutions. He views this reorganisation as a significant opportunity to enhance competitiveness, agility, and customer proximity. The disengagement of international groups creates strategic space for Moroccan banks, which are consolidating and expanding their regional ambitions, particularly in Africa, through investments in modernising offerings, infrastructure, and customer journeys. KPMG also notes an evolving competitive landscape, especially in electronic payment and acquisition activities, fostering new integrated and innovative payment solutions for merchants and individuals. Despite growing technological maturity, digitalisation has not yet led to widespread financial inclusion, even with a favourable environment driven by digital adoption, mobile penetration, and a developing fintech ecosystem. New models, such as 100% digital banks and embedded finance solutions, are beginning to redefine banking rela
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This summary was AI-generated from a story originally published by Le Matin.
A new report, the 2026 Labor Force Survey from the HCP, reveals that the Moroccan labor market experiences greater pressure than its 10.8% unemployment rate suggests. The survey indicates that a substantial 22.5% of the workforce is underutilized, a figure that encompasses not only the unemployed but also those who are underemployed and inactive.
Stellantis has launched a new circular economy center in Casablanca. The announcement was made on May 5, 2026, by Le Matin.ma. This initiative aims to promote sustainable practices within the automotive industry.
Morocco's Ministry of Health and Social Protection and AstraZeneca have signed a strategic agreement during the GITEX Future Health Africa - Morocco exhibition. This partnership aims to enhance cooperation in critical areas such as chronic disease screening, the development of digital solutions incorporating artificial intelligence, and the use of real-world data to improve medical decision-making. The agreement also includes strengthening the skills of healthcare professionals and expanding the "Heart Health in Africa" initiative, which focuses on cardiovascular and renal disease management. This collaboration supports Morocco's goal of consolidating its health sovereignty and developing its research and innovation capabilities. Minister Amine Tehraoui noted that Morocco is undergoing a significant transformation of its healthcare system under the Royal Project for the generalization of social protection and universal health coverage. Rami Scandar, AstraZeneca's President for the Middle East and North Africa region, affirmed the group's long-term commitment to Morocco through support for initiatives based on scientific innovation, digital technologies, and artificial intelligence.
Stellantis began 2026 with significantly improved indicators, achieving 38.1 billion euros in revenue, a 6% increase, and returning to a net profit of 0.4 billion euros. This marks a gradual return to profitability after a challenging 2025. The current operating income reached 1 billion euros, with a 2.5% margin, showing notable year-over-year progress driven by improved industrial execution and cost management. Industrial free cash flow remained negative at -1.9 billion euros, partly due to Q1 seasonality and exceptional charges from 2025, but the deficit was reduced by 37%. Stellantis strengthened its financial fundamentals by issuing 5 billion euros in hybrid notes, increasing liquidity to 44.1 billion euros, which is 28% of annual revenue. Commercial performance was generally positive, with North America leading with 6% sales growth, particularly for the Ram brand. Europe also progressed, supported by a diverse offering of thermal, hybrid, and electric powertrains, and maintained leadership in commercial vehicles. South America held its dominant position despite market share erosion, while Asia-Pacific saw a slight decline. The Middle East and Africa region showed resilience with stable sales and improved relative performance in a declining market. Stellantis is focusing on improving quality, production, and customer experience, with new models launched last year contributing to volume increases. The company plans to launch 10 new vehicles and six restyled models in 2026,