Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company ‘Wafacash SA’ of the exclusive control of the company ‘Express Tel SARLAU’ through the acquisition of 100% of its share capital and associated voting rights.

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘summary of the operation’ below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: the company ‘Wafacash SA’ subsidiary of the ‘Attijariwafa Bank’ group;
• The target: the company ‘Express Tel SARLAU’.

Nature of the operation:

• Acquisition of exclusive control.

Economic sectors concerned:

• Market of payment services and financial and para-financial products in proximity.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e., May 23, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the acquisition by the company ‘Wafacash SA’ of the exclusive control of the company ‘Express Tel SARLAU’ through the acquisition of 100% of its share capital and associated voting rights.

‘Wafacash SA’, a subsidiary of the ‘Attijariwafa Bank’ group, is a Moroccan joint-stock company with its head office at Rue Driss Lahrizi in Casablanca, registered with the Casablanca Trade Register under No. 60809. It is a payment institution offering its clients a wide range of products (payment accounts, means of payment, credits and micro-credits, domestic and international money transfers, foreign exchange, insurance, and telephony). Wafacash operates with major international fund transfer operators (Western Union, MoneyGram, Ria, Sendwave, Transfast, Worldremit, Taptap Send, Remitly…).

‘Express Tel SARLAU’ is a single-member limited liability company under Moroccan law, registered with the Casablanca Trade Register under No. 248701 and headquartered at 70-74 Corner of Mohammed Smiha and Ouled Ziane streets, Sidi Belyout in Casablanca. It specializes in the distribution of payment services and financial and para-financial products in proximity.

 

Done in Rabat, May 13, 2025