Maroc Telecom and IFC partner through €370mln in loans to boost digital connectivity in Africa
'Operating in the sub-Saharan Africa region for more than 20 years, Maroc Telecom Group's strategy is to enhance telecommunication and associated products to serve a fast-growing young population,' says Mohamed Benchaaboun, CEO of Maroc Telecom. 'With over 57 million customers outside of Morocco, Maroc Telecom provides all telecom services, from fixed line to mobile, and obviously broadband data access. In all our operations, mobile data is key to access internet, and 4G services are helping to reduce the digital divide: this long-term financial partnership with IFC in Chad and Mali will boost network coverage with a better quality of service, allowing massive adoption of 4G and supporting the countries' development. It will also provide further opportunities to enhance the portfolio of offers and services, such as Mobile Money which is critical for financial inclusion. Wherever Maroc Telecom operates, we are partnering with local stakeholders to ensure that economic performance goes hand in hand with a positive social impact and sustainable development.'
'Supporting cross-border investments through regional champions like Maroc Telecom is a strategic priority for IFC—especially in fragile and conflict-affected areas, where economic development fosters stability,' declares Makhtar Diop, IFC Managing Director. 'By mobilizing private capital to expand digital infrastructure, we're unlocking opportunities for innovation, skills development, and job creation across Africa—fully aligned with the continent's priorities.'
These investments align with the African Union's ambition to build a secure single digital market in Africa by 2030.
-Ends-
About Maroc Telecom
Maroc Telecom is a leading telecommunications operator, with more than 79 million customers, including 57 million in its Moov Africa subsidiaries. Headquartered in Rabat, Maroc Telecom was founded in 1998 and is owned 53% by United Arab Emirates (UAE)-based e&, 22% by the Kingdom of Morocco, with the remaining 25% being listed in Casablanca and Paris stock exchanges. It also operates in ten African countries under the Moov Africa brand, making it a major player in the continent's telecom industry. With millions of subscribers and a strong presence across West Africa and Central Africa, the group plays a central role in regional digital connectivity.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
Stay Connected with IFC on social media.
For Maroc Telecom
Francois Vitte
Relations.investisseurs@iam.ma
For IFC
Sara Aggour
Saggour@ifc.org
Sarah Moussa
smoussa1@ifc.org
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