Revolut has appointed a CEO to lead its Moroccan operations, three months after it appointed Amine Berrada to head its strategy and operations in the North African country.
Yacine Faqir becomes CEO following a two-year spell at Mastercard, where he served as Vice President of Products and Solutions for Northern and Francophone Africa. He is expected to lead the fintech giant’s expansion in the region, particularly its bid to secure an operational licence from Moroccan regulators.
The move underscores Revolut’s growing interest in Africa’s financial landscape. It comes as the company reportedly explores a similar path in South Africa, where it is considering applying for a licence. In Morocco, Revolut is expected to begin operations as a payment operator before pursuing a full banking licence within the next two years.
Valued at $75 billion, Revolut has experienced remarkable growth in recent years. In 2024, the fintech’s retail customer base climbed to 52.5 million, while revenue rose to £3.1 billion.
Over the same period, Revolut recorded a 59% year-on-year increase in customers using it as their primary bank, a milestone that has fuelled its drive to acquire more banking licences globally. Licensing processes are already underway in both the United States and the United Kingdom.
In Africa, the company’s strategy appears to focus on building strong regulatory relationships and tailoring products to local market needs. Morocco, with its growing fintech ecosystem and government-backed digital transformation agenda, provides a strategic entry point for Revolut into Francophone Africa.
The appointment of a local leader signals Revolut’s commitment to long-term growth on the continent. Faqir’s background in financial innovation and regional operations is expected to help the company navigate the complex regulatory and infrastructural landscape that has challenged other international fintechs in Africa.
If successful, Revolut’s entry could intensify competition in digital banking and cross-border payments, areas currently dominated by players like Orange Money, Chipper Cash, and Wave.
