BOA partners with MFC to boost FinTech innovation across Africa

By Parth Prabhudesai

Bank of Africa (BOA) has signed a partnership agreement with Morocco Fintech Center (MFC) to support the development of Morocco’s FinTech ecosystem and strengthen the country’s ambition of becoming a regional hub for financial innovation.

The agreement was signed on the sidelines of GITEX Africa 2026 and is designed to create a more collaborative environment for financial innovation in the country. Through this partnership, BOA and MFC plan to connect regulators, FinTech firms and financial institutions more closely, encouraging innovation through the exchange of expertise, knowledge and practical support.

Bank of Africa General Director Khalid Nasr described the agreement as an important step towards accelerating the growth of Moroccan FinTech companies. He said the partnership would help local FinTechs strengthen their capabilities and expand both across the African continent and into international markets.

Morocco Fintech Centre General Director Mustapha Lahlali also welcomed the move, describing it as a forward-looking and impact-driven initiative. He said the partnership reflects a shared commitment to building a stronger and more competitive FinTech ecosystem in Morocco.

According to Lahlali, the initiatives planned under the agreement will include access to testing environments, support in promoting FinTech use cases, and the provision of industry expertise. These efforts are expected to help startups and innovators develop new digital financial solutions while benefiting from closer cooperation with key players in the financial sector.

He added that the partnership is rooted in a common vision for the future of Moroccan FinTech. Lahlali said Morocco Fintech Center aims to serve as a guide for FinTechs, an accelerator of the ecosystem, and a unifying platform for all stakeholders working to advance financial technology in the country.

The agreement highlights Morocco’s growing focus on innovation, digital transformation and stronger collaboration between traditional financial institutions and emerging technology-driven firms.