News

Marrakech, May 29, 2024 – CDG Invest, the CDG Group's investment arm, and the Supervisory Authority of Insurance and Social Welfare (ACAPS) have concluded a partnership agreement to strengthen Morocco's Insurtech ecosystem. This collaboration brings together the expertise of the two organizations to promote innovation and the growth of start-ups in the insurance and social welfare sectors.

Mr Khalid Safir, CEO of the CDG Group and Chairman of the Board of CDG Invest, and Mr Abderrahim Chaffai, Chairman of ACAPS, inked the agreement on the sidelines of GITEX Africa 2024 in Marrakech.

The goal of this framework agreement is to foster the growth of an Insurtech ecosystem while also encouraging innovation, start-up development, and the strengthening of Morocco's digital transformation.

It should be highlighted in this regard that ACAPS, as the regulator of the insurance and social welfare sectors, prioritizes the use of innovative technology in its strategic goals. To that purpose, the regulatory body established the Innovation & Insurtech Unit, which plays an important role in promoting innovation by building synergies among all stakeholders in the sector. This partnership will enable ACAPS to provide support to Insurtech project leaders on compliance issues.

CDG Invest, a financial investor whose goals of fostering innovation and boosting Moroccan entrepreneurship, particularly through its 212Founders program, aims to help and finance start-ups and the Fintech and Insurtech ecosystems.

This partnership will enable for the coordination of efforts aimed at expanding the Insurtech ecosystem, collaboration in the creation and launch of startups sponsored by 212Founders, and the exchange of information and best practices in the Insurtech industry.

The parties will establish a comprehensive system and deploy the necessary resources to promoting the growth of insurtechs for innovation, customer experience, and insurance inclusion, while contributing to Morocco's digital transformation.

ABOUT ACAPS

The Supervisory Authority of Insurance and Social Welfare (ACAPS) was established in 2016 by Law 64-12 and is in charge of the regulation and supervision of Morocco's insurance and social welfare sectors. As part of its role, the supervisory authority ensures transparency, effective operation, and development in the sectors under its jurisdiction, with the goal of preserving the interests of policyholders, members, and beneficiaries.

Website address: www.acaps.ma.

LinkedIn URL: www.linkedin.com/company/acaps-officiel



About the 212 founders

212Founders is an investment and support initiative for businesses. CDG Invest launched it in September 2019 with the goal of investing in the establishment and growth of Moroccan businesses with global ambitions. It is part of the CDG Group's strategy, which includes promoting entrepreneurship and upgrading the Moroccan economy.

Website address: www.212founders.co.

LinkedIn URL: www.linkedin.com/company/212-founders



About CDG Invest

CDG Invest is an equity investor focused on the Moroccan economy's major concerns, including production diversification, regionalization, PPP growth, entrepreneurial development, and sustainable development. CDG Invest is the investment division of the Caisse de Dépôt et de Gestion Group.

Website address: www.cdginvest.ma.

LinkedIn URL: https://ma.linkedin.com/company/cdg-invest