Mastercard SME Confidence Index: Morocco holds potential for digital economic transformation

• SMEs in Morocco acknowledge the advantages of digital finance but face educational barriers to adoption

Casablanca, Morocco; 20 February 2025: The third edition of the Mastercard SME Confidence Index reveals that while a significant portion of Moroccan small and medium enterprises (SMEs) have yet to adopt digital payments, there is a clear recognition of their potential benefits.

Currently, 77% of Moroccan SMEs do not accept digital payments. However, among these businesses, there is an understanding that transitioning to cashless transactions can lead to reduced fraud risk, quicker revenue access, and enhanced credibility with governmental bodies and financial institutions. The primary barriers to this transition are a lack of education and confidence in digital payment systems.

“Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,” said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard.

“Moroccan SMEs recognize the benefits of digital transformation, and Mastercard is here to support them with the right tools, technology, and expertise. By fostering financial inclusion and simplifying access to digital payments, we aim to help businesses build resilience and scale sustainably,” said Mark Elliott, division president, Africa, Mastercard.

Economic challenges and resilience

Despite facing challenges such as rising costs of goods and services, inflation, and unemployment, 67% of Moroccan SMEs anticipate maintaining or increasing their revenue compared to the previous year. Factors contributing to this optimism include growing export opportunities and an expanding domestic market.

Identifying growth opportunities and priorities

Looking ahead, Moroccan SMEs see government-led initiatives as the most impactful factor in driving business growth, with many also recognizing the value of international collaborations and private sector partnerships. As businesses continue to explore digital opportunities, e-commerce is gaining traction, with a growing number of SMEs seeing it as a means to expand their reach and streamline operations.

Beyond digital payments, Moroccan SMEs are also prioritizing upskilling and workforce development as key enablers of business growth. Many business owners highlight access to training and development programs, staff upskilling, and seamless payment solutions as essential to improving their operations. However, finding specialized talent and navigating regulatory frameworks remain pressing concerns that businesses must address to fully capitalize on digital opportunities.

Commitment to Moroccan SMEs

Mastercard is actively supporting Morocco’s digital transformation through strategic partnerships and financial literacy initiatives. In collaboration with Bank of Africa, Mastercard is expanding access to innovative, secure payment solutions, accelerating the transition towards a more inclusive digital economy. This partnership is helping SMEs integrate modern payment technologies, enhance financial services, and streamline their business operations.

To further drive financial inclusion, Mastercard Academy has launched an online financial literacy course, equipping SMEs with essential knowledge on electronic payments, budgeting, credit management, and financial security. By increasing access to financial education, Mastercard is empowering Moroccan entrepreneurs with the tools they need to confidently adopt digital solutions, grow their businesses, and navigate an evolving financial landscape.

Through these efforts, Mastercard reaffirms its commitment to fostering a resilient and inclusive digital economy in Morocco, ensuring that SMEs have the resources and support they need to thrive in an increasingly digital world.