The African Development Bank Group awards a $510,000 grant to ACAPS to strengthen financial inclusion in the insurance sector

The African Development Bank, through the African Digital Financial Inclusion Facility (ADFI), has awarded a grant of $510,000 to the Supervisory Authority of Insurance and Social Welfare (ACAPS) to support the use of innovative technologies and strengthen financial inclusion in the country’s insurance sector.

The signing ceremony for this grant agreement took place on Thursday, April 23, 2026, presided over by the Minister of Economy and Finance, Ms. Nadia Fettah Alaoui. 

ACAPS, an independent public authority responsible for regulating and supervising the insurance and social security sectors, will use this $510,000 grant, supplemented by a $170,000 contribution of its own, to promote greater inclusion of vulnerable groups in Morocco, particularly women and young people.

This initiative will focus on developing innovative solutions and supporting market participants to offer products that are more accessible, transparent, and tailored to the needs of target populations.

In particular, this initiative aims to remove barriers to accessing, understanding, and using insurance products by supporting the integration and effectiveness of InsurTech technologies. It also provides methodological and technical support to traditional operators to facilitate their transformation and adaptation to market changes.

This initiative actively contributes to the implementation of the National Financial Inclusion Strategy (SNIF), particularly by strengthening the protection and economic integration of target populations through an inclusive and diversified insurance offering, insurance products tailored to disadvantaged groups, stakeholder awareness-raising, and the adaptation of the regulatory framework to support innovation and foster the emergence of new distribution channels.

Since 1978, the African Development Bank Group has mobilized nearly $16 billion to finance more than 150 projects and programs in Morocco, covering strategic sectors such as transportation, social protection, water and sanitation, energy, agriculture, governance, and the financial sector.

On behalf of the African Development Bank, Achraf Tarsim, the Bank’s Country Manager in Morocco, stated: “For us at the African Development Bank, the grant awarded today to ACAPS under the ADFI marks an important milestone in our efforts to promote digital innovation and financial inclusion in the Kingdom of Morocco.” 

On behalf of ACAPS, Mr. Abderrahim Chaffai, President, stated: “This partnership builds on the Authority’s ongoing efforts to promote more inclusive, innovative, and policyholder-centered insurance. It will help improve people’s access to insurance services, while supporting the sector’s transformation through innovation and the development of InsurTech solutions.”

A leading player in development financing in Africa for over fifty years, the African Development Bank places financial inclusion at the heart of its strategy for the continent’s economic and social transformation.

About the African Digital Financial Inclusion Facility (ADFI)

The ADFI works to make digital financial solutions in Africa useful, affordable, secure, and accessible by removing barriers to the growth, adoption, and use of digital financial solutions in general, and by reducing gender inequalities in financial inclusion in particular. ADFI supports the African Development Bank’s ten-year strategy by catalyzing inclusive digital financial services through the development of gender-sensitive infrastructure, policies, and regulations, as well as product innovation. ADFI’s current partners are the French Development Agency (AFD), the French Ministry of the Economy, Finance, Industry, Energy, and Digital Sovereignty, the Indian Ministry of Finance, the Luxembourg Ministry of Finance, the Gates Foundation, the Women Entrepreneurs Finance Initiative, and the African Development Bank, which hosts and manages the mechanism. For more information: www.adfi.org