Latest news with #MarocTelecomGroup
Ya Biladi
25-04-2025
- Business
- Ya Biladi
Visa and Maroc Telecom group sign strategic partnership for mobile payments in Africa
Visa and Maroc Telecom Group announced a strategic partnership on April 24, 2025, to revolutionize mobile payments in Morocco and explore opportunities across Africa. This partnership begins with MT Cash, Maroc Telecom's Mobile Money solution, which will integrate Visa payment solutions into its digital wallets. The collaboration will enable thousands of users to make secure electronic payments, money transfers, merchant payments, and more. Beyond Morocco, the companies signed a Memorandum of Understanding (MoU) establishing a global collaboration framework to expand digital financial services throughout Africa. This initiative aims to accelerate digital transformation and offer innovative payment solutions tailored to underbanked populations. The collaboration aligns with both companies' strategies - Maroc Telecom's focus on innovation and technological synergy, and Visa's mission to make digital payments universally accessible. Both organizations expect this initiative to drive mobile payment adoption and enhance financial inclusion across Maroc Telecom's operational territories. Visa, a global leader in digital payments operating in over 200 countries, and Maroc Telecom, the leading telecommunications operator in North and West Africa, confirmed their commitment to supporting digital financial services growth and mobile payments in Africa.
Morocco World
25-02-2025
- Business
- Morocco World
Maroc Telecom: Mohamed Benchaaboun Succeeds Abdeslam Ahizoune as CEO
Doha – The supervisory board of Maroc Telecom (Itissalat Al-Maghrib, IAM) has appointed Mohamed Benchaaboun as the new Chairman of the Executive Board, replacing Abdeslam Ahizoune, whose term has expired after 27 years at the helm of the historic operator. The decision was made during a supervisory board meeting held today and chaired by Finance Minister Nadia Fettah. Benchaaboun's appointment is for a two-year term, until March 1, 2027. 'The Supervisory Board noted the expiration of the mandates of the members of the Executive Board on March 1, 2025, and decided to appoint Mr. Mohamed Benchaaboun as Chairman of the Executive Board for a term of two years, until March 1, 2027, replacing Mr. Abdeslam Ahizoune,' Maroc Telecom asserted in a statement. The company stressed that this appointment 'will play a decisive role in the overall strategic development of Maroc Telecom Group's activities.' The board expressed its gratitude to Ahizoune 'for his exceptional contributions to the Group's growth over the past 27 years,' and affirmed that 'his decisive leadership played a key role in the pan-African expansion of the Maroc Telecom Group.' Benchaaboun joins Maroc Telecom after serving as Director General of the Mohammed VI Investment Fund, a position he has held since October 2022. His extensive career includes roles as Morocco's Ambassador to France, Minister of Economy and Finance, CEO of Banque Populaire Group, and notably, head of the National Telecommunications Regulatory Agency (ANRT). This leadership change comes at a significant moment for Maroc Telecom. The company is currently embroiled in a legal dispute with competitor INWI, which obtained a court decision compelling Maroc Telecom to pay MAD 6.4 billion ($640 million) in damages due to a five-year-old litigation. Maroc Telecom contested this decision in the Casablanca court, but its appeal was rejected, making the payment mandatory. According to well-informed sources cited by converging reports, Emirati investors, who were also dissatisfied with the relationship with INWI, had supposedly exerted pressure following a dispute with Maroc Telecom. As a result, several Emirati investments intended for Morocco were reportedly frozen as a retaliatory measure. Benchaaboun's appointment is viewed as an attempt to ease this crisis. Sources disclosed that his arrival should help unblock Emirati investments and lead to a settlement of the dispute involving the Moroccan operator. The board also decided to renew the mandates of the other members of the Executive Board for an additional two-year term, until March 1, 2027, namely Brahim Boudaoud, Hassan Rachad, François Vitte, and Abdelkader Maamar. Despite these challenges, Maroc Telecom reported 'solid' operational and financial performance for 2024. As of December, the Maroc Telecom group had 79.3 million customers, an increase of 4.5% year-on-year, driven mainly by the Moov Africa subsidiaries (+8.1%). The group generated revenue of MAD 36.7 billion (3.67 billion) in 2024, up 1.2% from 2023. The end of Ahizoune's reign: A new dawn for Moroccan telecommunications Ahizoune's departure marks the end of an era for the telecommunications sector in Morocco. Often described as a divisive figure in the Moroccan business landscape, he leaves behind a mixed legacy, marked by recurring anti-competitive practices. Critics contended that these practices were damaging to both the image and finances of the historic operator, as well as to the growth of the telecommunications sector in Morocco. The departing chairman has also come under fire in his role as President of the Royal Moroccan Athletics Federation, a position he has held since December 2006. In August 2024, Ahizoune allegedly used Maroc Telecom's advertising power to pressure media outlets that criticized the disappointing performance of Moroccan athletes at the Paris Olympics. As Morocco prepares to host major continental and global events, industry observers have pointed out that it was time for the telecommunications sector to turn toward a brighter future for Moroccans and move past the conflicts that have considerably slowed the development of telecommunications and new technologies in the country. Benchaaboun's appointment has been received as a judicious choice given the numerous qualities of the former Minister of Economy and Finance, who is known to be a man of dialogue, consensus, and innovation. It remains to be seen how the new CEO will handle this delicate situation, as Maroc Telecom faces strong competition and an increasingly demanding regulatory environment. Tags: Abdeslam AhizouneMaroc TelecomMohamed Benchaaboun
