Revolut Names Yacine Faqir CEO for Morocco as Fintech Eyes African Expansion

Global fintech powerhouse Revolut has appointed Yacine Faqir, a former Mastercard executive, as Chief Executive Officer for Morocco, marking a decisive step in its expansion across North Africa. The move underscores Revolut’s intent to strengthen its local leadership and deepen its presence in emerging African markets where digital banking is gaining ground fast.

Before joining Revolut, Faqir served as Vice President of Products and Solutions for North and Francophone Africa at Mastercard, where he led product strategy across consumer payments, SME offerings, tokenisation, and new payment flows. Earlier in his career, he helped set up Dun & Bradstreet’s credit bureau in Morocco, building infrastructure and data-governance frameworks that underpin the country’s financial system. He has also advised the World Bank and several fintechs on regulatory and credit-market development across Africa, an experience that positions him well to navigate the complex financial landscape Revolut is entering.

The appointment follows Revolut’s earlier hiring of Amine Berrada, a former Uber director, as Head of Operations for Morocco. Together, the two moves signal a deliberate and phased entry strategy: establish operational leadership first, then bring in a regulatory-facing chief executive to lead market entry, licensing discussions, and localisation.

Building on that strategy, Revolut’s board met with Bank Al-Maghrib, Morocco’s central bank, in October to present its expansion roadmap. The company plans to start out as a payment operator, with the goal of securing a full banking licence within two years.

For Faqir, the immediate focus will be adapting Revolut’s global “super-app” model to Morocco’s regulatory and consumer realities while ensuring that risk, compliance, and customer protection standards align with both local expectations and Revolut Group’s international benchmarks.

A Broader Africa Play and Global Momentum

At a broader level, Morocco represents a strategic gateway for Revolut’s African ambitions. The country’s growing fintech ecosystem, coupled with a government-backed digital transformation agenda, offers fertile ground for innovation and cross-border payment solutions. By anchoring its operations in Morocco, Revolut aims to connect the North African market with its wider network across Europe and the Middle East, positioning itself at the crossroads of Francophone Africa and the MENA region.

This move also mirrors Revolut’s gradual rollout across the continent. Earlier this year, the company launched operations in South Africa, led by Jacques Meyer, focusing on regulatory adaptation, local partnerships, and tailored remittance products.

With Morocco in the north and South Africa in the south, Revolut is steadily building a continental footprint designed to bridge Africa’s fragmented financial systems through its multi-currency, cross-border platform.

Globally, Revolut continues to post impressive growth. Valued at USD 75 B, the company reported 52.5 million retail customers and GBP 3.1 B in revenue in 2024. Notably, it saw a 59% year-on-year increase in users treating Revolut as their primary bank, a milestone that drives its push to secure more banking licenses worldwide, including in the United States and the United Kingdom.

As Revolut accelerates its African play, Morocco may well become the proving ground for how a global fintech can blend scale with local nuance to compete in one of the world’s most promising financial frontiers.