Just a few days after his appointment as the head of the general management of Moroccan group Crédit Immobilier et Hôtelier (CIH) Bank, Lotfi Sekkat (photo) told local media that his administrative board could consider activities in Africa.

Without going into much details, the new managing director revealed that he would continue with the implementation of projects initiated by his predecessor Ahmed Rahhou. One of such projects is the digitalization of CIH Bank’s services.  

Even though this expansion plan is a growth opportunity for the bank, this announcement is made at a time when numerous rating agencies such as Moody’s and Fitch Ratings pointed the potential risks large Moroccan banks may face in their African expansion plans.

Chamberline Moko