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AfricInvest’s Financial Inclusion Vehicle (FIVE) has invested in Equity Invest, the personal holding company of Ali Bettahi, to fund Moroccan payments company Vantage Payment Systems (VPS).
The transaction has enabled Equity Invest to increase its ownership of VPS to 100%, consolidating the company’s shareholder base.
VPS provides electronic payment services to merchants in Morocco. Historically focused on e-commerce payments, the company is expanding into in-person payments through a new point-of-sale (POS) acquiring offering, alongside its existing e-commerce and SoftPOS services.
Commenting on the transaction, Ali Bettahi, Chairman of VPS, said, “FIVE’s investment marks an important milestone for VPS. Over the years, VPS has built a leading position in electronic payments in Morocco. We are now entering a new chapter in our history with a bold ambition to extend this leadership to proximity acquiring and build a truly omnichannel platform. Our new POS acquiring offering is central to this ambition. With FIVE on board, we now have the resources to accelerate our development, invest further in innovation, and support more merchants as they digitize their payments.”
“Morocco is currently experiencing sustained economic growth. Turning this momentum into lasting opportunity requires accelerating the digitalisation of payments, a key lever in a country where cash still accounts for the vast majority of transactions. Driving the adoption of digital payments is therefore a priority to unlock Morocco’s full potential. Through our investment in VPS, we are providing a concrete response to this challenge, by supporting the rollout of a truly omnichannel and inclusive offering for Moroccan merchants, from small businesses to large enterprises,” commented Omar Bekkali, partner at AfricInvest.
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