Morocco's HPS plans fintech acquisition before 2027, CEO says
Casablanca-listed HPS operates in 95 countries and posted 2024 revenue of 1.267 billion dirhams ($140 million), up 6.4%.
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Last December, it bought Dublin-based CR2, a digital banking and payment software developer.
The company is considering the acquisition of a financial technology firm that can bring added value in technology, including in artificial intelligence, CEO Abdeslam Alaoui Smaili told Reuters on the sidelines of Gitex Africa, a tech event in Marrakech. He did not elaborate.
Nearly half of HPS's revenue comes from Africa, followed by Europe and the Middle East. HPS expanded to Australia last year and to Canada in 2023.
HPS seeks to build on its existing investments before expanding to Latin America, Alaoui Smaili said.
The firm, which runs the national payment switch in Morocco, sees moves by African central banks to legalize digital currencies - known as central bank digital currencies - as "an opportunity to increase digital payments and reduce the circulation of cash," he said.
For HPS systems, a CBDC will be "an additional currency to add in a transaction ... or an additional volume to manage," he said.
($1 = 9.23 Moroccan dirhams)
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'Joke' 8 Simone said the experience was 'unlike anything I've ever encountered in all my years travelling' Credit: Darren Fletcher 8 Simone said the ordeal upset her two-year-old niece Credit: Supplied Simone explained they drove for just 15 minutes a day from their accommodation to a luxury thermal spa complex on the outskirts of Bucharest. Their car was parked in the hotel's gated compound at night. 'I felt smug when we dropped it back because I knew I was returning it in the exact same condition,' Simone added. 'The guy started pointing out blemishes, but I had video proof for them all. 'Then he went straight to the front left bumper and said he'd found a scratch underneath the car. 'I burst out laughing because I honestly thought it was a joke, but then he said it was going to cost €400 (£350) to repair, and we'd have to sign some paperwork if we wanted our deposit back. 'He wouldn't give us the damage report to read, so I refused to sign and told him I wasn't responsible. 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In the meantime, I've been in touch with to request they stop using Carwiz.' Tripadvisor reviews reveal other holidaymakers claiming to have almost identical experiences at Carwiz franchises in numerous locations, including Athens, Sicily, and Gdansk. 8 Tim was fuming when his card was charged £1,109 on April 22 after his return to the UK, and he was forced to claim on damage waiver insurance to recover the cash Credit: Supplied 8 Tim left angry reviews of Carwiz on LinkedIn and was subsequently messaged by the company's CEO, Krešimir Dobrilović, who threatened to sue him Credit: Supplied It's the same story on Trustpilot, where Carwiz has racked up almost 200 1-star reviews. Tourists complain of being stung in Croatia, Katowice and Crete. A recent survey by consumer advice experts Which revealed a shocking 42 per cent of car renters have been hit by bogus damage claims. They said the issue is 'well known' in the industry and advised taking full damage waiver insurance, inspecting the car inside and out and taking photos. Any damage report should also be photographed, they say. They also suggest demanding evidence of the damage and how repairs are calculated before escalating your complaint. The European Car Rental Conciliation Service can help resolve cross-border disputes. However, only participating companies are bound by the scheme and they tend to be bigger players such as Avis, Enterprise and Hertz. The Sun's Travel Editor shares her top tips for hiring a car abroad IT'S easy for rip-off car hire merchants to try to ruin your holiday. They can charge you a fortune to repair scratches and bumps, extortionate re-fuelling costs and ridiculous fees for insurance with their bullying tactics. But there are four easy ways to avoid being duped and your dream getaway becoming a holiday from hell. The Sun's Travel Editor Lisa Minot, reporting from Camp du Domaine, in Southern France, shares her top tips that will save you a fortune. Reputable hire companies If the price seems too good to be true, it is too good to be true. When you look at these rip-off merchants that we're seeing increasingly, people have used them because the price was so cheap. Look for reliable, established brands. Go for one of the big brands; it may cost you a little bit more, but in the long run it will work out much better. Insurance rip-off Next, look at exactly what you get included in the price. I never take the excess car insurance from the car hire provider. I always book my own. I've got an annual policy. It's much cheaper. You can buy excess car hire polices in the UK; they are effectively like travel insurance but they protect your car. Should you have an accident, it protects the no claims bonus, and they are very good value. They are accepted by every reputable car hire company; if they try to convince you that you can't use it and you have to buy theirs, that is wrong. There are some very high pressure selling techniques around at the moment, trying to up-sell you various different things. You have to be strong. You don't need to take a policy out, you've taken an excess care hire policy out in the UK. You could also get yourself an annual, or even a two-week excess waiver policy from a specific company in the UK, too. Document dents The one thing you must do when they hand over the keys to the car is make sure that you take as much video and photographic evidence as possible before you leave. Very often they will give you a form where you're meant to mark little crosses where you see dents, scratches and other problems. But do take photos and videos yourself; it's much more important because it's timestamped and means you have incontrovertible evidence to counter any claims, should they come about. It's really important, if you do see any damage on the car when you pick it up, to make sure you have alerted the hire company. You could say to them: "Look, I've noted this damage. Here's my photo of it. I'm going to be returning it with the same damage on the car, because this was here before I hired the car.' Fill up yourself The fuelling policy that your car hire comes with is really important, too. Make sure you choose to refuel yourself and a 'full to full' option. Don't leave it up to the car company to refuel your car at the end of your trip, because that means they are deciding what the price is. It gives you the opportunity to find a cheaper petrol station. Make sure you fill the car up - if you're having to drive five or 10 miles to get back to the care hire company, that's acceptable. We're seeing exactly the same with electric cars now. It's really important that you're in control of where you are recharging because the prices can vary drastically. Book smart Another top tip is make sure you book your hire car with a credit card, because it will give you much more protection than a debit card. But also it means the company will take your deposit, which they hold, from your credit card rather than out your spending money. A spokesperson for Carwiz told The Sun: "At CARWIZ, we categorically distance ourselves from any suggestion that unethical or aggressive practices are in any way part of our business model. "These are isolated incidents that in no way reflect the values, standards, or expectations that we support as a global brand. "We sincerely regret that the potentially injured client did not contact us immediately after the unfortunate event, in order to immediately determine all the circumstances, because it is our goal to prevent all such and possible future unpleasant situations. "Our franchise partner in Bucharest is operating another rental brand alongside CARWIZ from the same physical location. In several cases, vehicles and services appear to have been issued under a different brand identity, while still being processed within a CARWIZ-branded environment, including signage, uniforms, and physical premises. We fully understand how, from the customer's point of view, this leads to the perception that the service is being provided directly by CARWIZ. When staff in CARWIZ uniforms hand over a vehicle from a CARWIZ-branded office, the distinction between brands is understandably blurred, even if the booking, payment, and contract technically fall under a separate company or brand entity. "We are currently conducting a formal internal review and will take the necessary measures to eliminate all forms of dual-branding at CARWIZ locations in the future. "At CARWIZ International, we continuously monitor, audit, and improve our global network to uphold the standards our brand represents. We are committed to ensuring that every customer feels respected, safe, and well-served."
