The Moroccan banking group Banque Centrale Populaire (BCP) increased its share in the capital of Maroc Traitement des Transactions (M2T) by concluding a purchase agreement with the investment firm, AM Invest. The amount of the transaction was not specified but the annual financial statements show that the BCP’s 54.7% share in 2016 increased to 63.7% on December 31, 2017.

According to the Moroccan magazine Challenge, BCP which is one of the most active banks in the country used MD18 million for the transaction (MD10 = $1.1), in addition to the MD75.3 million that the group disbursed previously in 2015 to become the first shareholder of the company (M2T) that continues to strengthen.

Let’s note that recently, along with 3 other operators, M2T has been certified as a payment institution by the Country’s central bank (Bank Al Maghrib). It has a network of more than 2100 sale points and above all, it positions itself as a partner of more than a hundred companies in many key sectors.

Idriss Linge