At a Glance
- IPO widens shareholder base and boosts access to long-term capital for expansion.
- Founding Amar and Tazi families retain control alongside institutional development investors including IFC.
- Mediterrania’s partial exit supports next growth phase, product expansion and wider geographic reach.
Cash Plus, one of Morocco’s leading money transfer and financial services providers, majority owned by the Amar and Karim Tazi families of Morocco, has taken a major step in its evolution after completing an initial public offering on the Casablanca Stock Exchange, a move that enabled Mediterrania Capital Partners to partially exit its investment.
The IPO broadens Cash Plus’ shareholder base and marks a turning point in its transformation from a fast-growing private fintech into a publicly listed financial services platform with deeper access to long-term capital.
IPO reshapes Cash Plus ownership
Following the listing, Cash Plus is now majority owned by a mix of founding families and strategic investors. Control remains anchored with the Amar family, led by President and CEO Nabil Amar, alongside the Tazi family, whose interests are tied to Moroccan textile industrialist Karim Tazi, founder of Casablanca-based fashion retailer Marwa and chief executive of Folly Fashion.
Institutional shareholders include development finance groups such as FMO and the International Finance Corporation (IFC), while Groupe Richbond has joined as a strategic local partner. Public shareholders now also hold a portion of the company after the flotation, diluting Mediterrania’s stake.
Mediterrania begins partial exit
Albert Alsina, founder and CEO of Mediterrania Capital Partners, said the partial exit reflects the scale Cash Plus has reached, describing the company as one of Africa’s largest fintech platforms with a strong financial inclusion mandate. Hatim Ben Ahmed, Mediterrania’s managing partner, noted that the firm’s exit supports Cash Plus’ next phase of growth, including product expansion and wider geographic reach.
Positioned for fintech expansion
Founded as a domestic money transfer business, Cash Plus, a paramount fintech entity and financial network in Morocco, has grown into a diversified financial services provider, offering payments, remittances and digital financial products to millions of customers across Morocco.
Boasting 5 brands, 3600 POS (with 20 percent in rural settings), and over 1 million digital wallet aficionados, CASHPLUS is at the helm of Morocco’s fintech revolution, looking ahead with aspirations of fostering a holistic and flourishing financial environment.
The IPO positions the company to accelerate investment, strengthen governance and compete more aggressively as Morocco’s fintech sector matures.
For Cash Plus, the listing is less about an investor exit and more about institutionalizing its growth story, locking in long-term capital, widening ownership, and reinforcing its ambition to become a regional fintech champion rooted in Morocco.
