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Egyptian hotel group Pickalbatros Hotels & Resorts wants to increase its capacity in Morocco from 2,700 to 7,000 rooms by 2030. On Thursday, October 15, the group signed a $250 million financing agreement in Marrakech with the International Finance Corporation (IFC), a member of the World Bank Group, and Attijariwafa bank.

African banks have strengthened their core capital in recent years as they seek to absorb potential shocks and navigate growing economic uncertainty. South African, Moroccan and Egyptian lenders dominate the continent’s top 10 by Tier-1 capital.

The Attijariwafa bank neobank is expanding its mobile services to make international education-related payments easier for Moroccan families.