The African Development Bank Group, through the Africa Digital Financial Inclusion Facility (ADFI), has approved a $510,000 grant to Morocco’s Insurance and Social Welfare Supervisory Authority (ACAPS). The funding is aimed at promoting digital innovation and strengthening financial inclusion within Morocco’s insurance sector, particularly for vulnerable groups such as women and young people. ACAPS will also contribute $170,000 in counterpart funding to support the initiative.
The intervention focuses on leveraging innovative technologies, especially InsurTech solutions, to improve access to, understanding of, and use of insurance products. It seeks to help market players design services that are more accessible, transparent, and better aligned with the needs of underserved populations. The project will also provide technical and methodological support to traditional insurance operators to help them modernize and adapt to evolving market conditions.
A key objective of the initiative is to support Morocco’s National Financial Inclusion Strategy by expanding inclusive insurance offerings and improving economic protection for target groups. It will also contribute to raising awareness among stakeholders and strengthening the regulatory environment to encourage innovation and the development of new distribution channels within the sector.
AfDB officials emphasized the importance of the initiative in advancing digital transformation and inclusion. The Country Manager of the African Development Bank in Morocco noted that the partnership marks a significant step in promoting financial innovation, while ACAPS leadership highlighted its role in making insurance more inclusive, innovative, and centered on policyholders. The project is also expected to enhance sector transformation through the development of InsurTech solutions.
Since 1978, the African Development Bank Group has mobilized nearly $16 billion in Morocco across more than 150 projects in key sectors including transport, energy, agriculture, water and sanitation, social protection, governance, and finance. The ADFI initiative continues this long-standing engagement by supporting digital financial solutions that are affordable, safe, and accessible, while also addressing gender gaps in financial inclusion.
