Cash PlusStatus: Approved investment
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Who is our customer
Founded in 2004 by Abdelbakki Amar. Cash Plus is one of the leading remittance and payment institutions in Morocco, active in the business of remittances, bills payments, mobile wallet and currency exchange services. Cash Plus is a licensed payment institution, providing the cash-in, and cash-out component of various payment- and other services, predominantly related to inbound international and national remittances in Morocco. Cash Plus has become a trusted and reputable brand within Morocco, who many of the underserved population rely on to perform bill payments or to withdraw funds transferred to them in cash. Cash Plus offers these services through its network of c. 3,200 POS locations, spanning over 18 Moroccan regions.
What is our funding objective?
Through its investment, the consortium - consisting of MC IV, FMO, and IFC - aims to support Cash Plus’ growth and expansion plans, supplying the demand for basic payment services in Morocco.
Why do we fund this investment?
FMO considers this an attractive investment opportunity as it provides us with a possibility to invest in i) an attractive asset as one of the leading remittance and payment companies in Morocco creating impact for the bottom of the pyramid, ii) strong commercial thesis on the back of growing demand and access to payment services in Morocco.
What is the Environmental and Social categorization rationale?
E&S Category is C due to limited environmental or social risks and/or impacts. The following IFC Performance Standards are applicable: PS 1 (assessment and management of Environmental & Social risks and impacts), and PS 2 (labour and working conditions). The main risks are associated with E&S management improvements.
- Website customer/investment
- Financial Institutions
- Publication date
- Effective date
- Total FMO financing
- EUR 17.00 MLN
- FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C)