• AXA sells 80% of AXA Crédit Morocco to Stellantis’ Fidis arm
• Stellantis to offer bundled car sales, financing, and insurance
• Move aligns with Morocco’s booming auto sector, export growth

The French insurance group AXA has finalized the sale of an 80% stake in its Moroccan consumer credit subsidiary, AXA Crédit, to the automaker Stellantis through its financial services arm, Fidis, according to Moroccan media reports. AXA will retain a 20% stake in the company, signaling a strategic partnership.

While the financial terms of the deal were not disclosed, the agreement includes a distribution partnership that will allow AXA Crédit customers to access AXA's insurance products.

With this majority acquisition, Stellantis—the parent company of 14 brands, including Peugeot, Citroën, and Fiat—aims to build a comprehensive, integrated offering in the Moroccan market that combines vehicle sales with financing and insurance solutions. The automaker intends to capture a larger share of the expanding market and secure long-term customer loyalty. "By acquiring the majority of AXA Credit, Stellantis is setting up its own financing entity in Morocco, a growing market," said Andrea Faina, Director of Stellantis Financial Services for Africa and the Middle East.

For its part, AXA sees this as an opportunity to refocus on its core business of insurance while remaining a partner of a major player in the automotive sector. AXA Crédit, which specializes in consumer loans, was founded in 1954 as ACRED and was acquired by AXA Assurance in 1999 before being rebranded in 2012.

This transaction comes at a favorable time for Morocco's automotive industry, which is experiencing steady growth. This is driven by the expansion of local manufacturing, a rising middle class seeking mobility solutions, and the country's broader industrial ambitions. Morocco aims to produce more than one million vehicles per year. In 2024, the value of the country's automotive exports reached a record 157 billion dirhams (about $17.5 billion), a 6.3% increase from the previous year, according to official figures.

Stellantis plans to leverage this momentum to accelerate its investments, particularly in the production of electric, hybrid, and three-wheeled vehicles. The group is targeting a 22% market share in the Africa and Middle East region.

Sandrine Gaingne