Latest news with #MohamedBenchaaboun
Ya Biladi
21-06-2025
- Business
- Ya Biladi
Morocco Telecom secures €370 million IFC loan to expand 4G in Chad and Mali
Morocco Telecom has secured a €370 million loan from the International Finance Corporation (IFC) to fund the rollout of 4G services in Chad and Mali, the company announced Friday. The financing aims to improve access to high-speed internet, help bridge the digital divide, and support economic development, in line with the African Union's goal of creating a unified digital market by 2030. Morocco Telecom, in which Emirati group e& holds a 53% stake, serves around 79 million customers, more than 57 million of whom are in ten African countries. It is the second-largest company on the Casablanca Stock Exchange by market capitalization. «Morocco Telecom Group has been operating in sub-Saharan Africa for over 20 years. Our strategy focuses on enhancing telecom services and related products to meet the needs of a fast-growing young population», Mohamed Benchaaboun, General Manager of Morocco Telecom, said. «In all our markets, mobile data is key to internet access, and 4G plays a crucial role in bridging the digital divide. This long-term financial partnership with the IFC in Chad and Mali will expand network coverage, improve service quality, support the broader adoption of 4G technology, and contribute to development in both countries», he added.
Zawya
20-06-2025
- Business
- Zawya
Maroc Telecom and IFC partner through €370mln in loans to boost digital connectivity in Africa
Rabat, Morocco – Maroc Telecom and IFC are building a long-term partnership to support the subsidiaries of Maroc Telecom in Chad and Mali. Through this partnership, IFC will provide two loans for a total amount of €370 million to enhance mobile connectivity and improve the quality of mobile internet. The financing will support the rollout of 4G services, bringing faster, more reliable internet to more people and businesses across both countries. '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 Stay Connected with IFC on social media. For Maroc Telecom Francois Vitte For IFC Sara Aggour Saggour@ Sarah Moussa smoussa1@
Morocco World
20-06-2025
- Business
- Morocco World
IFC to Support Maroc Telecom Subsidiaries in Chad, Mali with €370 million in Loans
Rabat – The International Finance Corporation (IFC) announced on Thursday a partnership with Maroc Telecom to support its subsidiaries in Chad and Mali through a two-loan program of €370 million. A statement from IFC said the partnership seeks to improve mobile connectivity and the quality of mobile internet, supporting the rollout of 4 services and expanding internet reach to more people and businesses across Chad and Mali. Mohamed Benchaaboun, CEO of Maroc Telecom, commented on the long-term partnership with IFC, noting that it will provide further opportunities to enhance their portfolio of offers and services like Mobile Money. 'With over 57 million customers outside of Morocco, Maroc Telecom provides all telecom services, from fixed line to mobile, and broadband data access,' IFC quoted Benchaaboun as saying in the statement, noting that IAM's operations recognize the importance of mobile data in accessing the internet. '4G services are helping to reduce the digital divide,' he said, adding that the partnership aims to contribute to boosting the two countries' development. Makhtar Diop, IFC Managing Director, also commented on the partnership, noting that similar support for companies like Maroc Telecom is a strategic priority for IFC, especially in conflict-affected areas. '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,' he said. The partnership also aligns with the African Union's ambition to build a secure single digital market in Africa by 230. Maroc Telecom is one of the leading telecommunication operators across Morocco. The operator reported a revenue of MAD 36.7 billion or $3.67 billion last year, marking a 1.2% increase. The group attributed the increase to a 4.6% revenue growth from its Moov Africa subsidiaries. Operations on the continent recorded strong performance across key segments, with mobile data growing by 15.6%, fixed internet expanding by 21.1%, and Mobile Money services rising by 14.4%.
Ya Biladi
19-06-2025
- Business
- Ya Biladi
Maroc Telecom replaces dual boards with single Board of Directors, retains Benchaaboun as CEO
Maroc Telecom's Board of Directors has approved a major change in the company's governance. The previous system, with two separate boards, a Supervisory Board and a Management Board, will be replaced by a single Board of Directors, the Moroccan telecommunications giant announced Thursday in a press release. All members of the former Supervisory Board have been retained as members of the new Board to ensure a smooth transition. The Board also confirmed Mohamed Benchaaboun as the company's Chief Executive Officer, a role he previously held. This new structure is intended to streamline decision-making as Maroc Telecom continues to grow and evolve, the company added.
Morocco World
13-06-2025
- Business
- Morocco World
Maroc Telecom's Strategic Pivot: Mohamed Benchaaboun Takes the Helm in a New Digital Era
Rabat — Morocco's central telecom giant is at a turning point, ever since Mohamed Benchaaboun was appointed as Chairman of the Management Board of Maroc Telecom on March 1, 2025. This move transcended a mere change in leadership. It represents a monumental shift for one of Africa's largest telecom operators, amid mounting competitive pressure, regulatory scrutiny, and the pressing need for digital modernization. Benchaaboun stepped in at a moment when Maroc Telecom was undergoing a deep transformation, one that extends far beyond Morocco's borders. With the 2030 FIFA World Cup approaching, co-hosted by Morocco, Spain, and Portugal, the pressure to scale infrastructure, improve connectivity, and fast-track 5G deployment is no longer abstract. It's national, regional, and urgent. A technocrat with a global compass Benchaaboun is no stranger to complexity. With a background that traverses telecommunications, banking, and economic policy, he brings an unusually broad toolkit to the telecoms sector. A graduate of the prestigious École Nationale Supérieure des Télécommunications in Paris, Benchaaboun began his career at Alcatel-Alsthom before moving into public service. He started first as Director of Customs and Indirect Tax Administration, then as head of Morocco's telecom regulator, ANRT, from 2003 to 2008. He later helmed Banque Centrale Populaire during a decade of regional expansion, served as Minister of Economy and Finance from 2018 to 2021, and held diplomatic office as Morocco's Ambassador to France. His most recent role, managing the Mohammed VI Investment Fund, cemented his place as one of Morocco's key figures in strategic economic planning. At Maroc Telecom, this seasoned technocrat brings a balance of regulatory acumen, fiscal discipline, and geopolitical awareness, traits increasingly essential for a sector at the crossroads of global digital transition and national development imperatives. Reckoning, realignment Maroc Telecom's new chapter began under pressure. In 2024, the company was fined MAD 6.3 billion ($640 million) for anti-competitive practices, a sum exceeding its annual net profit. The ruling prompted a reckoning inside the company, with internal audits, executive reshuffles, and the drafting of new governance structures aligned with international standards. A shareholder vote scheduled for June 2025 is expected to ratify sweeping changes in transparency, oversight, and performance culture. Benchaaboun's leadership is seen as instrumental in navigating this shift. Known for his discretion and long-term vision, he is tasked not only with repairing reputational damage but with repositioning Maroc Telecom for the digital age. From rivalry to strategic alliance One of the most significant moves under his watch came swiftly. In March 2025, Maroc Telecom signed a historic cooperation deal with its longtime competitor, Inwi. Just months earlier, the two had been locked in litigation. Now, they are collaborators, sharing infrastructure, coordinating on 5G rollout, and aligning on innovation priorities. This unexpected alliance signals a broader shift toward market maturity in Morocco's telecoms sector. For consumers and enterprises, the potential gains are substantial: better connectivity, faster deployment of next-generation networks, and reduced redundancy in national infrastructure spending. April brought another strategic leap: a new partnership with Vodafone Business aimed at strengthening cloud services, cybersecurity, and enterprise solutions across Morocco and the broader region. These moves, backed by Benchaaboun's diplomatic finesse and institutional credibility, form part of Maroc Telecom's larger ambition to play a regional leadership role in Africa's digital transformation. The World Cup test, the 5G race The countdown to the 2030 FIFA World Cup looms large over every telecom executive in Morocco. For Benchaaboun, it's both a deadline and a litmus test. Hosting one of the world's largest sporting events requires seamless digital infrastructure, robust mobile connectivity, and secure data environments — especially as spectators, broadcasters, and governments increasingly rely on real-time digital services. This means that 5G is not just a buzzword; it is a national priority. Yet, despite pilot programs and early commercial offerings, widespread 5G deployment remains uneven across Morocco. The challenge is not just technological, but economic and political: it requires managing spectrum allocation, negotiating vendor relationships, safeguarding against cyber risks, and ensuring equitable access. Morocco seeks to extend 5G coverage to 25% of its population by the end of 2025, with a target of reaching 70% by 2030, according to the ANRT. The rollout will prioritize major cities and strategic economic areas, including industrial zones, technology parks, and innovation hubs. Universities, research institutions, and high-tech sectors such as automotive and aeronautics are expected to be early beneficiaries of the new network. This large-scale initiative comes as part of a landmark collaboration between Maroc Telecom and Inwi, which in March established two joint ventures to support the effort. FiberCo plans to deploy one million fiber optic connections within two years and expand to three million within five. TowerCo, the second venture, is set to build 2,000 telecom towers by 2028 and 6,000 by 2033. The overall investment, projected at MAD 4.4 billion ($440 million), seeks to enhance efficiency and accelerate nationwide access through shared infrastructure. Meanwhile, Orange Morocco is pursuing a parallel approach, weighing a combination of independent development and selective partnerships. Benchaaboun's deep knowledge of public finance and regulatory systems may prove decisive here. His role in deploying cloud-based public services and digital ID systems during his time as finance minister underscores his understanding of how telecom infrastructure can be leveraged for broader socioeconomic development. Balancing legacy, innovation Maroc Telecom remains a legacy institution, with operations in 11 African countries and deep roots in Morocco's state-led development model. But, in an era defined by startups, cloud-native platforms, and AI-powered services, the pressure to modernize is accelerating. With private capital increasingly demanding performance and regulators tightening controls, the margin for error is shrinking. Benchaaboun is expected to strike a balance between legacy stewardship and forward-looking innovation. His ability to navigate both boardroom politics and international capital markets positions him uniquely to lead the telecom giant into its next phase. The stakes are high. From rebuilding trust after regulatory fines, to transforming Morocco into a 5G-enabled World Cup host, to expanding Maroc Telecom's footprint across Africa's emerging digital economies, the challenges are vast and interconnected. Yet, amid these stakes also comes a vast horizon of opportunity. With Mohamed Benchaaboun at the helm, Maroc Telecom is betting on technocratic leadership to deliver strategic realignment — not just for shareholder value, but for the future of Morocco's digital infrastructure and its place on the global stage. Tags: FIFA World Cup 2030Maroc TelecomMohamed BenchaabounMorocco 5g
