• Latest
  • Trending
UK’s Revolut to launch in South Africa, targeting tech-savvy youths

Revolut taps former Uber executive Amine Berrada to spearhead expansion into Morocco

July 31, 2025
Edtech startup The Invigilator raises $11 million to scale its AI platform

Edtech startup The Invigilator raises $11 million to scale its AI platform

September 6, 2025
iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

iXAfrica receives RMB financing to fast-track 20 MW expansion in Nairobi

September 6, 2025
OpenAI challenges LinkedIn with new AI-powered hiring platform

OpenAI challenges LinkedIn with new AI-powered hiring platform

September 6, 2025
Tanzanian fintech NALA takes its services to Kenya

Tanzanian fintech NALA takes its services to Kenya

September 6, 2025
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News

Revolut taps former Uber executive Amine Berrada to spearhead expansion into Morocco

Oluwatosin Adeyemi by Oluwatosin Adeyemi
July 31, 2025
147 6
0
UK’s Revolut to launch in South Africa, targeting tech-savvy youths
474
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

The UK-based neobank Revolut has taken a significant step in its larger push into the African continent by appointing former Uber general manager Amine Berrada to spearhead its entry into Morocco.

The action was taken as part of its continuous efforts to obtain full operating licences in South Africa and Morocco.

Revolut’s expansion to Morocco

Revolut, which was established in 2015 and currently has 60 million customers worldwide, is valued at about $45 billion. The business has started assembling a team in Morocco in order to submit an application for a license from the central bank of the nation, Bank Al-Maghrib.

“Revolut continues to explore growth opportunities in new markets as part of our mission to provide our app to customers around the world,” a spokesperson told Asharq Business via email, in a report published on Sunday.

RelatedPosts

PrimePay obtains data security certification

South Africa’s payment reform opens doors for stablecoins, blockchain innovation

Eaglelion unveils solutions to enable cross-border remittances for Ethiopians

“We are evaluating the Moroccan market and consider it an attractive market, allowing us to provide unique value to customers in the future. However, we are still in the early stages of the process,” it added.

The London-based fintech company has added Morocco to its list of Middle East and North Africa expansion targets, along with the United Arab Emirates and Saudi Arabia.

Along with cryptocurrency, foreign exchange, and other financial products, Revolut provides savings, deposit, borrowing, and investment services worldwide.

Challenges before Revolut

Revolut will join a comparatively developed financial sector in Morocco that has just lately started to embrace digital finance.

However, the business must carefully customise its multi-currency services for compliance and relevance due to the dirham’s non-convertible status and stringent Bank Al-Maghrib oversight.

Notwithstanding these challenges, Morocco is a strategic starting point due to its closeness to Europe, expanding digital transformation agenda, and robust diaspora corridors.

With its more competitive remittance and digital banking services, Revolut’s arrival has the potential to completely change the financial landscape.

Revolut’s plan to obtain full operating license in South Africa

Revolut is reportedly in negotiations to obtain a full banking license in South Africa, which would greatly broaden its range of business beyond e-wallets and remittances. With a highly regulated environment shaped by laws like the Protection of Personal Information Act, stringent foreign exchange controls from the South African Reserve Bank, and intricate tax compliance requirements, South Africa presents its own set of difficulties.

Additionally, the neobank will have to contend with fierce competition from established firms. With more than 10 million clients, TymeBank is the leader of a thriving digital banking ecosystem that also includes fintech infrastructure companies like Ozow and Stitch, Discovery Bank, and Bank Zero.

Revolut’s long-term plan

Revolut’s actions, however, suggest a long-term plan. By obtaining full licenses and making investments in local leadership, the business communicates that Africa is a crucial growth frontier rather than a short-term endeavor.

It is anticipated that Morocco, with its distinct combination of opportunity and regulation, will act as a testbed for localisation, guiding a phased rollout into the larger North and sub-Saharan African markets.

Tags: African expansiondigital bankingFintechMoroccoRevolut
Oluwatosin Adeyemi

Oluwatosin Adeyemi

Oluwatosin Adeyemi is a seasoned writer with 5+ years of experience. He holds a degree in Animal Science from Olabisi Onabanjo University. A hardworking and creative individual with a passion for teamwork and self-improvement.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.