Sanlam Maroc, the Moroccan subsidiary of South African insurance giant Sanlam Group, has made its first venture capital investment, injecting $2.2 million into the tech startup Woliz.
The pre-seed funding round marks a strategic entry for the insurer, partly owned by billionaire Patrice Motsepe, into Morocco’s burgeoning fintech sector, targeting the digitization of the country’s vast network of neighborhood shops.
The investment is aimed at modernizing local commerce and boosting financial inclusion for a segment of the economy that is central to daily life but has remained largely informal and cash-based.
The startup, Woliz, is building a technology platform to connect thousands of small, independent retailers—often called “hanouts”—into a unified digital ecosystem.
The funding will help accelerate the rollout of its point-of-sale terminals and software, which allow shop owners to manage inventory, process digital payments, and link directly with suppliers, distributors, and financial institutions.
Woliz’s founder, Kamal El Hardouzi, notes that local commerce is one of Morocco’s most economically dense but least technologically equipped sectors, and the partnership with Sanlam will provide the means to build a lasting digital infrastructure.
For Sanlam Maroc, this is more than just a financial placement; it is a strategic move to gain a deeper understanding of a niche market that is traditionally difficult to reach with conventional financial products.
Yahia Chraibi, the CEO of Sanlam Maroc, stated that the partnership will help the company develop tailored insurance and financial services for small merchants while supporting local innovation.
This investment aligns with the national “Morocco Digital 2030” strategy, which aims to accelerate the country’s digital transformation, and reflects a wider trend of rising foreign investment in Africa’s digital economy.
