Seven Moroccan companies have made it onto this year’s list of Africa’s fastest-growing businesses, compiled by the Financial Times in collaboration with Statista. Their inclusion highlights a quiet but undeniable momentum building within Morocco’s entrepreneurial ecosystem—an emerging force in the African economy that’s now stepping more confidently into the spotlight.
Between 2020 and 2023, these firms recorded impressive growth, holding their own in a ranking still largely dominated by heavyweights like South Africa and Nigeria. Yet beyond these two giants, countries like Kenya, Mauritius, and Morocco are making steady headway, revealing a broader shift in the continent’s business dynamics.
The Moroccan companies featured on the list span a wide range of industries, from digital tech and healthcare to retail and tourism. Among them are Chari.co, Tingis Web, Mobiblanc, Akdital, Paylogic, Risma, and Dislog Group—each reflecting a different facet of Morocco’s evolving economy, which is beginning to break away from traditional business models and chart a more agile, modern course.
Take Chari.co, for example. This startup, founded by Ismael Belkhayat, represents a new breed of nimble, tech-savvy businesses. It provides a B2B platform that digitizes the supply chain for small retailers, while also integrating microfinance services. For Belkhayat, the recognition by the Financial Times validates the notion that Morocco is now producing companies that meet the performance benchmarks of Africa’s top players.
Then there’s Tingis Web, based in Tangier, which is pushing customer-focused digital innovation beyond Morocco’s usual tech hub of Casablanca. Mobiblanc offers a different kind of expertise—partnering with major corporations to guide their digital transformation strategies, blending high-level consulting with hands-on tech implementation.
Dislog Group, led by Moncef Belkhayat, has followed a more traditional path rooted in industrial growth. The distribution company continues to expand its physical footprint, most recently with the acquisition of Farmalac, a manufacturer of medical devices. That move was backed by a 100 million dirham investment from the family office of Lamia and Mohamed Tazi, adding to support already provided by investors like SPE Capital, Sanam, and Axxam.
In the healthcare sector, Akdital has emerged as one of the country’s most dynamic private operators, now managing around twenty clinics across Morocco. Fintech firm Paylogic is playing a critical role in modernizing the country’s financial infrastructure, offering digital payment solutions crucial to a rapidly evolving economy. And Risma, a long-established name in hospitality, remains a key player as the tourism industry undergoes significant shifts.
What unites these companies isn’t just their ability to grow quickly. They also share a talent for adapting to change, scaling effectively, and building smart systems and processes. Their success shows that fast growth in Morocco isn’t driven by digital innovation alone—it’s also the result of clear strategy, disciplined execution, and a willingness to embrace change.
