Wafacash and Money Fellows Team Up to Digitise Morocco’s Daret Savings Circles

Mohammed Fathy

Last updated 12-04-2026

4 min

Wafacash and Money Fellows will digitise Morocco’s traditional “Daret” savings circles.

The regulated model has Bank Al-Maghrib approval, adding official backing and safeguards.

The aim is simple: “don’t replace traditional behaviour, upgrade it”.

Technology and nationwide reach promise a secure, scalable alternative to informal systems.

If balanced well, tradition and tech could boost financial inclusion in Morocco.

In Marrakech, on the buzzing sidelines of GITEX Africa, Wafacash and Egypt-born fintech Money Fellows unveiled a partnership that could quietly reshape how Moroccans save together. The two companies are joining forces to digitise “Daret”, the long-standing community savings circle known across the country, and bring it into a regulated, digital framework. Crucially, the move comes with all necessary approvals from Bank Al-Maghrib, giving the model official backing in the Moroccan market.

For many in the region, savings circles are hardly a new concept. Whether you call it Daret in Morocco or Gameya in Egypt, it is a system built on trust, routine and shared responsibility. I’ve seen first-hand how such circles help families manage school fees, weddings, or even small business expenses. It’s simple, human, and deeply social. So when I heard about this move, I thought: if done right, this could be spot on.

Money Fellows is not walking into Morocco empty-handed. In Egypt, the company has already attracted more than one million users and built a network of over 350 local and regional partners. That scale matters. It suggests the model is not just an experiment, but something that has been pressure-tested in a busy, complex market.

At the heart of the partnership is a straightforward idea: don’t replace traditional behaviour, upgrade it. Rather than pushing users towards unfamiliar financial tools, Wafacash and Money Fellows aim to modernise an existing practice. Through digital management systems and credit scoring mechanisms, Daret will become more transparent and structured, with clearer commitments and stronger safeguards. In plain terms, the goal is to reduce risk and make the whole process less of a faff.

The collaboration blends Money Fellows’ technology platform with Wafacash’s infrastructure and nationwide distribution network. Wafacash, well-rooted in Morocco’s financial landscape, brings proximity to customers and operational strength. Money Fellows contributes the tech layer and its experience running regulated digital savings circles at scale. Together, they are betting that this synergy can deliver a secure and scalable solution, instead of just another finance app people download and forget.

Ahmed Wadi, Founder and CEO of Money Fellows, described the move as the official starting point for the company’s expansion into Morocco. He noted that the business is shifting from limited, small-scale circles to a broader system capable of wide adoption, calling it a real evolution of traditional financial models.

Abdesslam Bouirig, CEO of Wafacash, emphasised that meaningful innovation must begin with real use cases. He said the partnership reflects a shared vision to transform a deeply rooted social habit into a model that is simpler, more transparent and secure, while still scalable. For Wafacash, he added, this is part of a wider commitment to impactful innovation and greater financial inclusion across the country.

That said, digitising a social practice is not always straightforward. Trust, after all, is built between people, not screens. On the flip side, regulation and technology can add layers of security that informal systems sometimes lack. If the balance is right, this could be a quiet game changer for financial inclusion in Morocco.

At Arageek, we often talk about startups that try to disrupt everything in sight. I’m not always a fan of that approach. Sometimes, the smarter move is to take what already works and make it stronger. And believe it or not, that can be far more powerful.

For Morocco’s savers, this partnership could mark the begining of a new chapter, one where tradition and technology sit at the same table, rather than pulling in opposite directions. If it delivers on its promise, Daret may keep its community spirit while gaining the security and structure of a regulated financial system. Not a bad deal at all.

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