The African Development Bank (AfDB) has approved a $510,000 grant to Morocco's Insurance and Social Welfare Control Authority (ACAPS) to enhance insurance inclusion in the country. The funding, announced on April 24, 2026, aims to support the development of inclusive insurance products and strengthen the regulatory framework.
The grant will finance technical assistance and capacity-building initiatives to expand access to insurance services, particularly for underserved populations. This aligns with Morocco's National Financial Inclusion Strategy and the AfDB's commitment to promoting financial inclusion across Africa.
ACAPS will use the funds to conduct market studies, develop microinsurance products, and improve consumer protection mechanisms. The project is expected to benefit low-income households, small farmers, and informal sector workers who currently lack adequate insurance coverage.
The AfDB's support underscores the importance of insurance in building resilience against economic shocks and climate risks. Morocco has made significant progress in financial inclusion in recent years, but insurance penetration remains low at around 3% of GDP.
