Investment Overview: AfricInvest's Strategic Move
AfricInvest, through its Financial Inclusion Vehicle (FIVE), has made a significant investment in Equity Invest, the holding company led by Moroccan entrepreneur Ali Bettahi. This strategic partnership has enabled Equity Invest to acquire all outstanding shares of Vantage Payment Systems (VPS), thereby consolidating full ownership of the Moroccan electronic payments provider under a unified management structure. Although the precise financial terms of the deal have not been disclosed, the implications of this acquisition are expected to be transformative for the digital payments landscape in Morocco.
Shifting Towards Omnichannel Payments
VPS has established its reputation by providing e-commerce payment gateways tailored for Moroccan merchants. With the newly acquired capital, the company is set to pivot towards omnichannel payment solutions, which will introduce a physical point-of-sale (POS) acquiring service alongside its existing online payment systems and innovative tap-to-pay SoftPOS offerings. This evolution is crucial in a market where cash transactions still dominate, despite Morocco's gradual economic advancement. Ali Bettahi, chairman of VPS, hailed the investment as "an important milestone," emphasizing that it equips the company with the necessary resources to accelerate development, drive further innovation, and assist more merchants as they transition to digital payment methods.
The timing of this investment is particularly strategic, as cash continues to represent the majority of transactions in Morocco. AfricInvest's decision reflects a growing recognition that enhancing in-person digital payment solutions is vital for driving growth in cash-intensive markets. Omar Bekkali, a partner at AfricInvest, highlighted that digitalization is "a key lever in a country where cash still accounts for the vast majority of transactions." This investment not only aims to bolster financial inclusion by improving merchant infrastructure but also signals a broader trend of empowering both small and large enterprises to adapt to the changing financial landscape.
As reported by app.dealroom.co.
