London-based neobank Revolut is advancing its expansion into Africa by appointing Amine Berrada, a former Uber General Manager, to lead its entry into the Moroccan market. Berrada, who recently announced his new role on LinkedIn, will oversee the companys operations as it prepares to apply for a full banking license from Bank Al-Maghrib.
Morocco is seen as a strategic gateway for Revoluts expansion into North Africa, offering a growing digital finance ecosystem and strong ties to Europe. The neobank, which has over 60 million users globally and a valuation of 45 billion, plans to introduce multi-currency accounts, remittance services, and other tailored financial products for the Moroccan market.
In a statement, Amine Berrada said he is thrilled to lead Revolut's launch and scale its presence in Morocco, adding that he is especially proud to contribute to bringing advanced financial services to millions in his home country.
While Revolut is also eyeing expansion into South Africa and the Middle East, its entry into Morocco presents both opportunities and challenges. The company will have to navigate a complex regulatory framework and the non-convertible status of the Moroccan dirham. It will also face strong competition from established local players like Cash Plus. However, Revolut believes that local leadership and a commitment to obtaining full banking licenses will signal its long-term growth vision for the region, with Morocco serving as a key testbed for future African rollouts.
