In the first half of 2024, Moroccan startups attracted $14 million in funding, according to Africa: The Big Deal. The government has also committed to supporting these startups through its national digital strategy.

Moroccan Digital Minister Ghita Mezzour (photo) recently announced a 240 million dirhams (approximately $24.5 million) investment to boost innovation and support local startups. Announced, on October 8th, at the opening of the 6th edition of the African Digital Summit, the investment aims to boost demand for innovative services. 

“We have allocated a budget of 240 million dirhams to stimulate domestic demand for innovative services, prioritizing purchases from local startups and giving them access to outsourcing opportunities, so they can export their solutions beyond our borders,” Mezzour stated.

This initiative comes at a time when African startups are increasingly struggling to attract capital. It is part of the "Digital Morocco 2030" strategy, which aims to boost the local tech ecosystem. According to data from Partech Africa, Moroccan startups secured $33 million in 2021, $26 million in 2022, and $93 million in 2023.

State support is expected to strengthen the country’s tech entrepreneurial fabric, stimulate job creation, attract foreign investors, and further solidify Morocco’s position as a regional tech hub.

Adoni Conrad Quenum