• Sanlam Maroc takes a stake in Woliz, a local retail tech startup
• The deal marks Sanlam’s first long-term private equity venture in Morocco
• Investment supports digitalization and financial inclusion of small retailers

Sanlam Maroc, a subsidiary of South Africa’s Sanlam insurance and financial services group, said on December 24, 2025, that it had taken an equity stake in Woliz, a Moroccan startup focused on digitizing neighborhood retail businesses. The insurer invested $2.2 million in the transaction, marking its first move into venture capital through an institutional, long-term private equity approach.

Sanlam said the investment aims to support the modernization of local retail and strengthen financial inclusion in a sector that plays a central role in daily life in Morocco and remains a key pillar of the local economy.

Woliz said the transaction will help accelerate the development of its technology and fintech platform, which is designed to digitize and structure local retail by placing shop owners at the center of a unified ecosystem linking commerce, finance, telecommunications, institutions, and consumers.

For Sanlam Maroc, the investment is also intended to deepen its understanding of a niche market and potentially enable the development of insurance and financial services products tailored to small retailers, a segment seen as essential but sometimes difficult to reach.

The transaction aligns with Morocco’s “Digital Morocco 2030” strategy, which aims to modernize the national economy and promote financial inclusion, with the broader goal of positioning the country as a leading digital economy player in Africa.

At the continental level, the investment comes amid a favorable environment for digital-sector funding. Despite global uncertainty, foreign direct investment flows to Africa reached $97 billion in 2024, up from $55 billion in 2023, an increase of 75%, according to the 2025 World Investment Report: International Investment in the Digital Economy published by the United Nations Conference on Trade and Development.

SG