In just four years, Morocco will find itself in the global spotlight as it co-hosts the 2030 FIFA World Cup alongside Spain and Portugal. At the heart of this grand event will be the Hassan II Stadium in Casablanca, which is currently under construction and is set to accommodate up to 115,000 spectators. This stadium is envisioned to be a showcase of Moroccan culture and hospitality during the international tournament.
As Morocco gears up for this momentous occasion, the nation is not only focused on enhancing its infrastructure—such as roads, railways, airports, and hotels—to welcome thousands of fans from around the globe, but it is also strategically positioning its economy to elevate its international appeal. A key element of this strategy is the emphasis on technology and innovation.
This burgeoning spirit of innovation was evident during last year's Gitex Africa event held in Marrakech, where Moroccan tech advancements were prominently showcased. To further explore the Moroccan tech ecosystem, _Maddyness_ embarked on a Learning Expedition organized by the Raoul Agency, traveling from Casablanca to Marrakech, passing through Rabat and Ben Guerir.
3,000 Startups and a Dozen "Gazelles" by 2030
While Marrakech is undoubtedly Morocco's most famous destination, it is from Rabat, the political capital, that the trajectory for the country's future is being set. To accelerate its digital transformation, Morocco has implemented the "Morocco Digital 2030" strategy, which aims to significantly increase the number of startups in the country—from 380 in 2022 to 3,000 by 2030, with an interim goal of reaching 1,000 startups by 2026. Among these emerging companies, the nation hopes to cultivate one or two unicorns, as well as a number of "gazelles," which are defined as startups generating over $5 million in revenue and demonstrating annual growth of 10 to 20 percent over three years.
As of now, the Moroccan government reports that the country is home to 636 startups, which is four times the number recorded in 2021 (167). "We have a beautiful ecosystem that is gaining momentum," expressed Amal El Fallah Seghrouchni, the Minister Delegate in charge of Digital Transition and Administrative Reform in Morocco. Since her appointment in October 2024, El Fallah Seghrouchni, a recognized researcher in artificial intelligence, has highlighted AI as one of the kingdom's top priorities for advancing its technological vision. Notably, Morocco is attracting foreign players like Oracle, which opened its second R&D center dedicated to AI in Agadir in early summer.
Transforming Morocco from Low-cost to Best-value
To enhance the country's attractiveness to investors, the government can rely on the Moroccan Agency for Investment and Export Development (Amdie), which operates similarly to Business France as a one-stop-shop for investors. This agency also promotes Morocco internationally under the "Morocco Now" brand. Established in 2017 through the merger of several governmental agencies, Amdie plays a crucial role in Morocco's development strategy leading up to the 2030 World Cup.
"Morocco has transitioned from a low-cost model to a best-value approach. We execute well, we are quick, we deliver, and we know where we are headed. It's reassuring to have a country that sets goals and follows a roadmap to achieve them. We also boast political and monetary stability that comforts international investors," emphasized Ali Seddiki, the General Director of Amdie. "With the 2030 World Cup on the horizon, we are reaching a critical mass of projects. There is clearly an acceleration occurring as we approach this date. We may not have anticipated all these investments, but it’s wonderful news," he added, concluding that "we are at a pivotal moment in our history; with the right fundamentals, we can truly take off."
Symbolizing the country’s rapid progress in preparation for the World Cup, King Mohammed VI approved the extension of the Moroccan high-speed rail line to Marrakech in April 2025. The goal is to have it operational by the end of 2029, connecting Tangier to Marrakech in 2 hours and 40 minutes and linking Rabat airport to Casablanca airport in just 35 minutes, with the project estimated to cost over 5 billion euros.
While Rabat may hold political power, Casablanca serves as Morocco's economic capital, contributing 32.3% of the national GDP. When examining investments in Moroccan startups, Casablanca's influence is even more pronounced, having attracted 75.1% of tech funding and 58.3% of deals in 2025, corresponding to $108.4 million raised across 48 transactions, according to the Morocco Startup Ecosystem Report by Mohammed VI Polytechnic University (UM6P).
Given this vibrant backdrop, it is no surprise that various organizations are dedicated to fostering the growth of Moroccan startups. One such entity is CDG Invest, the investment arm of the Caisse de Dépôt et de Gestion (CDG). In 2019, CDG Invest launched the 212 Founders program to structure the Moroccan tech ecosystem, supporting both early-stage and Series A startups. "This is the most dynamic venture capital fund in Morocco. We invest not only in Moroccan startups but also in international companies with ties to Morocco," remarked Nawfal Fassi Fihri, Deputy Director of the 212 Founders program, which is located in the heart of Casablanca Finance City, an emerging business district set to host a massive startup campus covering 20,000 square meters, modeled after Station F in Paris, scheduled to open in 2028.
Since its inception, the 212 Founders program has supported over 135 startups, with 28 receiving investments and three exits. The most notable of these was the acquisition of the home delivery platform Cathedis by Ora Technologies, a company specializing in super applications, marking the first significant merger between two major players in the Moroccan ecosystem. "This exit proves that liquidity exists," noted Fassi Fihri, who added, "Over the past seven years, we have learned how external markets operate, such as those in the United States and the Middle East."
Ismael Belkhayat, a serial entrepreneur from Casablanca, exemplifies the spirit of innovation within the Moroccan tech scene. Having spent time in San Francisco, he joined Y Combinator in the summer of 2021 with Chari, a B2B e-commerce application that became the first startup from the Maghreb region to participate in the prestigious accelerator. "Y Combinator still believed in Africa then. Now, they are mainly focused on AI and the U.S.," observed Belkhayat, who has launched several successful ventures, including Votre Chauffeur (the Moroccan equivalent of Uber) and Sarouty (the Moroccan equivalent of Se Loger).
With Chari, which also participated in the Founders Program at Station F, Belkhayat has developed a super app for Moroccan merchants, with the startup being mandated by the Ministry of Industry in Morocco to serve as the official app for 100,000 small traders. To date, Chari has 25,000 clients. Initially focused on simplifying daily operations for these merchants, such as managing stock and invoices, the company has since expanded its scope.
After digitizing these merchants' activities, particularly in financial aspects, Belkhayat has transformed Chari into a Banking-as-a-Service platform, enabling local businesses to offer financial services (current accounts, Visa cards, phone top-ups, bill payments, insurance, etc.). "In developing countries, traditional commerce remains significant, especially in Morocco, where banking penetration is still relatively low. In this context, small merchants have a strong connection with their local customers, enabling them to play a key role in financial inclusion," explained the Moroccan entrepreneur. "With Chari, small traders become the banks of Moroccans," he added.
To facilitate its growth, the e-commerce startup has obtained a license from the central bank of Morocco, allowing it to operate as a financial institution. Chari has also secured multiple rounds of funding from investors including Orange Ventures, the Californian accelerator Plug and Play, and Y Combinator. The company has pursued external growth strategies, such as acquiring La Caisse, the Moroccan equivalent of Sum Up, and Karny, a mobile credit book application for merchants. In essence, Chari embodies the model of a startup that should inspire a new generation of Moroccan entrepreneurs.
Prior to Chari's emergence, Hightech Payment Systems (HPS) blazed the trail as an earlier pioneer in the field. Founded in January 1995 in a modest 100-square-meter apartment in Casablanca, co-founder and president Mohamed Horani humorously notes, "That’s quite different from garages in California!" He describes HPS’s story as the "unbelievable rise of a Moroccan tech multinational," which went public in 2006 and now operates in 13 countries across five continents with the support of 1,600 employees, 900 of whom are based in Morocco. "From the start, we had global ambitions. The insufficient size of the Moroccan market drove us to pursue exports. However, having an ambitious and dynamic strategy does not mean adopting a reckless approach," the Moroccan leader clarified.
A key to HPS's success lies in its commitment to innovation, with an average of 12 to 16% of the company's revenue reinvested annually into R&D, even during challenging years, as Horani emphasized. Over its three-decade existence, HPS has weathered numerous crises, including the internet bubble burst in 2000, the financial crisis of 2008, and the COVID-19 pandemic in 2020. "We live in a VUCA world: volatile, uncertain, complex, and ambiguous. To thrive in this uncertain environment, we must be more agile and proactive," stated HPS's co-founder.
While many Moroccan entrepreneurs gravitate towards Casablanca due to its substantial economic influence, others, like Réda Berrehili, are focusing on Marrakech, the country's top tourist destination. A prominent figure in the French Tech scene, Berrehili previously founded Squarebreak, a rental platform acquired by Accor, and Genki, a startup that simplifies travel for both tourists and hoteliers, as well as Klub, a private investment and financial services platform targeting high-income individuals seeking high-yield, high-risk products. He was even dubbed Morocco's "Mark Zuckerberg" by local media.
Now, Berrehili is thriving in Morocco with Dar Society, a company co-founded with Laila Skalli and Javier Cedillo-Espin to provide a more intimate travel experience in the kingdom. The trio has taken over a boutique hotel in the southern part of Marrakech's medina, the Riad Dar des Arts, situated near the Moroccan Culinary Arts Museum. This haven sets the foundation for Berrehili's vision where culture, gastronomy, and heritage converge to create unique experiences for visitors.
As reported by maddyness.com.
