Global Economy
Moroccan Fintech Chari Ranks Among Africa’s Top 50 Tech Companies in Landmark London Index
Moroccan fintech Chari has been named one of the top 50 most mature private tech companies in Africa, included in the Africa Tech 50 (AT50) index launched on the London Stock Exchange. As the only Moroccan company on the list, Chari is gaining international recognition for its contributions to financial inclusion for small merchants. The index tracks companies based on six pillars including revenue strength, governance maturity, and strategic expansion.
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Moroccan fintech Chari has secured a place in the prestigious Africa Tech 50 (AT50) index, making it the sole representative from Morocco among the 50 most advanced private technology companies on the continent. The index was officially launched on the London Stock Exchange earlier this year and aims to highlight companies poised for potential initial public offerings (IPOs).
Tracking Maturity Across Six Key Pillars
- Valuation momentum
- Revenue stability
- Liquidity visibility
- Governance maturity
- Strategic expansion
- Market signal strength
Published by Indexa Exchange Group, the AT50 follows transparent rules aligned with IOSCO standards. It is reviewed quarterly and managed by an independent methodology committee chaired by Gbite Odunyou. Since its activation at the Johannesburg Stock Exchange in July 2026, the index has attracted attention from global investors looking to tap into Africa’s fast-growing tech ecosystem.
Nigeria Leads Representation with 16 Companies
While Nigeria dominates the ranking with 16 entries, other African nations are well-represented too. South Africa (11), Egypt (9), and Kenya (7) also feature prominently. Chari now stands alongside notable regional players such as Flutterwave, Moniepoint, and OPay from Nigeria; Wave from Senegal; Yassir from Algeria; and MNT-Halan from Egypt.
Chari’s Surge in April Boosted the Index
In April 2026, Chari played a major role in pushing the AT50 upward, contributing +0.19 points — representing 22% of the weekly movement. This spike followed the launch of its digital banking solution tailored for SMEs operating within Morocco. CEO Ismael Belkhayat recently participated in the opening bell ceremony during the index's rollout tour across key African financial hubs including Cairo and Johannesburg.
A Vision Built From Casablanca
Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari serves underserved merchants across Francophone Africa through accessible financial tools. Backed by top-tier investors like SPE Capital, Orange Ventures, Global Founders Capital, and UM6P Ventures, the startup graduated from Y Combinator (S21) and is licensed as a payment institution by Bank Al-Maghrib. Its long-term goal? To bring the AT50 tour to the Casablanca Stock Exchange next.