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Banking / Investment in Algeria

  • Investment Bells Ringing

    CHINA, 2018/02/19 It's just been over half a year since Kenya inaugurated its standard gauge railway, but by presently the transport system is seeing heavy request from travelers between Nairobi and Mombasa. The China-built project, changing Kenya's landscape with brightly-colored trains and sparkling modern stations, is a worthy example of tangibly turning the vision of the Belt and Road Initiative into reality in Africa. China is working with its African partners to realize the modernization of the continent's infrastructure, particularly in East Africa, according to experts.
  • Algeria develops Islamic finance to attract investment and deepen banking penetration

    ALGERIA, 2017/11/11 Islamic banking is gaining traction in Algeria, with all six national-run banks committing to launching services through the rest of this year and the government announcing the launch of a sharia supervisory board. Speaking in Parliament in late September, the newly appointed Prime Minister Ahmed Ouyahia said three national-owned banks – Banque de l'Agriculture et du Développement Rural, Banque de Développement Local and Caisse Nationale d’Epargne et de Prévoyance – will launch Islamic financial services by the end of the year, with four others set to join them in 2018.
  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • Major investment in council housing in Algeria

    ALGERIA, 2013/10/15  Algeria has decided to tackle by 2014 one the country's major problems together with youth unemployment and terrorism, the lack of council housing, investing 60 billion dollars in the project - a sum which exceeds the GDP of most nations worldwide. The plan has attracted construction giants, particularly Chinese companies working in the country which have however recently been reprimanded by authorities for delays in production. Housing is a key investment in Algeria and has led to major protests over the allocation of council housing periodically challenged given the high number of applicants. Presently Algeria plans to complete a five-year plan to build 2.6 million public housing units by the end of 2014. Abdelmadjid Rebboune, the housing minister, has drafted the ambitious road map, starting with an intensive construction plan in rural areas where 900,000 council houses will be set up and 80% are by presently being built.
  • Encouraging energy investment

    ALGIERS, 2013/06/11 Next a year-long review process, amendments to Algeria’s Hydrocarbons Code were released in February 2013, offering new incentives to foreign investors. National authorities hope that the revisions will stimulate better international involvement in oil and gas exploration, particularly for unconventional reserves, such as shale. The country has seen declining investment in exploration since legislation was introduced in 2009 that requires foreign companies to enter into a joint venture with the national operator, Sonatrach, and limits their participation to 49%.
  • China’s investments in Algeria: More than $1.5 billion in one decade

    CHINA, 2013/04/15 Beijing has invested additional than $1.5 billion (1.1 billion euros) over the completed decade in Algeria, where 50 top Chinese companies and 30,000 workers are based, media reported on Sunday. By the end of 2012, China's total investments in the North African country over the completed decade reached $1.5 billion, Beijing's ambassador to Algiers Liu Yuhe told the daily Liberte.
  • Algeria’s banks look to be back on track,

    ALGERIA, 2013/02/17 Long-awaited plans to set up a ratings agency that will gauge stability levels in Algeria’s banks look to be back on track, with the process for selecting a monitoring system presently gathering pace. Algeria will be hoping that the launch of the new ratings system for its banks will boost confidence in the sector, while paving the way for increased lending, in line with the country’s bid to diversify its economy.
  • Algeria’s shale captures Europe attention

    ALGERIA, 2012/12/01
  • Algeria: Rating the banks 2012-01-20

    ALGERIA, 2012/01/20 A new ratings system for Algeria’s financial sector along with increased regulatory oversight, are expected to keep the country’s banks functioning smoothly and help further reduce the vulnerability of the sector to both exogenous and domestic crises.  
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