Welcome to the latest edition of the ABBC Business News Digest.

ABBC Secretariat

ABBC NEWS 

Algerian Embassy in London and ABBC host ‘Algeria’s Knowledge Economy, A.I and Start-ups Ecosystem’ briefing

On 3rd May the Algerian Embassy in London, in collaboration with the Algeria British Business Council (ABBC), organised a briefing session featuring H.E. Yacine El Mahdi Oualid, Minister of the Knowledge Economy, Start-ups and Micro Enterprises on the theme of ‘Algeria’s Knowledge Economy, A.I and Start-ups Ecosystem’.

The session was opened by H.E. Nourredine Yazid, Ambassador of Algeria to the United Kingdom, who extended a warm welcome to the attendees. The UK Prime Minister’s Trade Envoy to Algeria, Lord Richard Risby, reciprocated with his own welcome and invited Lady Olga Maitland, Chairman of the ABBC to deliver her own welcoming address.

Lady Olga expressed sincere appreciation for M. Oualid’s presence, acknowledging the pivotal role he plays in Algeria’s evolving economic landscape. Having actively engaged in Algerian affairs for nearly two decades, Lady Olga underscored the significant transformations witnessed within the economy and emphasised the importance of Mr Oualid’s role. Furthermore, she expressed her eagerness for future collaboration, particularly highlighting the upcoming cyber and AI conference in 2025. Lady Olga concluded by reaffirming the ABBC’s commitment to tangible outcomes, stating a dedication to action that goes beyond dialogue.

Mr Oualid’s gracious reception of the remarks was noted, culminating in an agreement to reconvene for further discussions in June, underscoring a promising trajectory for bilateral cooperation.

BUSINESS ENVIRONMENT

Algeria’s bid to join BRICS’ New Development Bank ‘currently being examined’

On 27th April, the Minister of Finance, Laaziz Faïd announced that Algeria’s bid to join the Bric’s New Development Bank (NBD) ‘is in its final phase’ and is ‘progressing according to the agreed timetable.’ According to the minister’s explanations, Algeria’s participation in the capital of the multilateral financial institution is currently being examined. Read more

Public transport companies sign agreements with Ministry to reduce export costs 

On 29th April, four agreements were signed between the General Directorate of Foreign Trade at the Ministry of Trade and Export Promotion and four public companies operating in the transport sector to enable Algerian exporters to benefit from a 50% reduction in the cost of transporting goods abroad. The reduction will be supported by the Export Promotion Fund which was introduced as part of the 2024 Budget Bill. Read more

Ministry of Trade to launch electronic encryption system for import tracking

On 29th April, the Ministry of Trade and Export Promotion announced that a new electronic data encryption system will be launched on 1st May on the platform for tracking import requests for raw materials, products and goods intended for resale without industrial transformation. The new system aims to ‘improve the efficiency and transparency of processing bank domiciliation document requests and to secure company data.’ Read more

Bank of Algeria sets guidelines for overseas travel costs in foreign currencies

The Bank of Algeria has issued directives that set out the overseas travel costs in foreign currencies for executives and directors of Algerian companies. The amounts are set according to the capital and revenues of the company, as well as the position of the executive. Read more

President Tebboune announces pension and retirement allowance increases

On 1st May, President Abdelmadjid Tebboune announced increases in pensions and retirement allowances ranging from 10% to 15%, which will be approved at the next meeting of the Council of Ministers. Read more

INDUSTRY NEWS

AGRICULTURE: Souakri group’s cherry tomato project to come online in October 2024

The CEO of the private Algerian Souakri group, Abdenour Souakri has announced that the group’s cherry tomato production project will be operational at the end of October 2024 after the conclusion of the trial phase which will begin at the end of May. The production start-up will involve the group’s first greenhouse, with an annual production capacity of 6,000 tonnes of cherry tomatoes. Additional greenhouses are also planned. Indeed, the Souakri group has 1,000 hectares of land, 500 ha of which are set aside for vegetables. The group has invested 2bn DZD (15mn USD) in the first phase of the project out of a total investment of 100bn DZD (745mn USD). It plans to create 10,000 direct jobs. Read more

AUTOMOTIVE: Sinotruk marks return to Algeria
On 23rd April, the Chinese heavy goods vehicle manufacturer Sinotruk organized a launch ceremony to mark its official return to Algeria. During the ceremony, the private Algerian company Soframimex, part of the Amouri group and exclusive representative of Sinotruk in Algeria, began its activity in the heavy goods vehicle sector. Soframimex offers five models with 17 variants, specifically adapted to the requirements of construction, long-distance transport and transport on all terrains. Soframimex has two branches, one in Algiers and the other in Biskra, and a network of 14 approved agents across the country. Soframimex plans a rapid expansion of its network to 28 points of sale and after-sales services in accordance with regulatory requirements. According to the representative’s forecasts, around 2,500 units should be sold during 2024, with 5,000 to be sold in 2025. Read more

AUTOMOTIVE: Great Wall receives vehicle import license

According to press sources, the Chinese automotive brand Great Wall has been given a license to import four models of vehicles into Algeria via its new exclusive distributor Great Wall Motors Algeria. The models to be sold include the Jullion Haval SUV, the Wingle 7 van, the Poer Wingle pickup, as well as the luxury SUVs Tank 300 and Tank 500. The first batch of vehicles has reportedly already arrived at the Port of Jijel. The sources also indicate that a manufacturing project is being assessed, although details of the project have not been announced. Read more

FINANCE: Minister of Finance announces BDL’s planned stock market debut

On 27th April, the Minister of Finance, Laaziz Faïd announced that the Banque de Développement Local (BDL) will float on the Algiers Stock Exchange ‘from the beginning of the next school year’ via a partial opening of its capital. Read more

FMCG: Cevital reported closes sugar refinery in Béjaïa due to export permit issue

According to press sources, the private Algerian group Cevital has shut down one of its two sugar refineries in the Béjaïa agri-food complex. The closure is reported to be motivated by ‘the lack of a permit to export sugar.’ Read more

HOSPITALITY: Cirta Hotel to reopen ‘in the coming days’

The Minister of Tourism and Crafts, Mokhtar Didouche has announced that the State-owned Cirta Hotel in the city of Constantine, which has been undergoing renovation and modernisation work, will ‘reopen its doors in the coming days.’ The renovation work on the hotel has been carried out ‘in accordance with international standards’ and is now undergoing ‘its final finishes’ having been completed to 98%, according to the minister. Employing 60 workers, the hotel has 120 beds and a range of facilities including an open-air swimming pool, underground parking and an exhibition hall with restaurant. Read more

INFRASTRUCTURE: Work to build ore quay at Port of Annaba officially launched

Work to extend the port of Annaba and create an ore quay as part of the national integrated phosphate project, was launched on 23rd April. This project will see the construction of an ore quay over a total length of 1,600 meters, to a depth of 16 meters, across an area of 82 hectares, which will be used for industrial units to process and export phosphates and related materials. The projects to extend the port of Annaba and create a specialised ore quay, will be carried out within a contractual period of 24 months, and will require the use of 20 million tonnes of quarry aggregates. Read more

INFRASTRUCTURE: A 74mn USD investment to boost security and safety at airports

On 27th April, the Minister of Transport, Mohamed El Habib Zahana noted that the sector has allocated a budget of 10bn DZD (74mn USD) to boost safety and security at airports and improve the services provided to travellers. This includes equipping all airports with thermal camera surveillance systems and modern scanners that comply with current international standards, particularly with regard to detecting explosives. The systems will be acquired via domestic and international calls for tender. The projects include the strengthening and digitisation of video surveillance systems at a number of airports, the renovation of exterior wall and surveillance patrol circuits within airport grounds, the construction and redevelopment of power, drinking water networks, sewers, wells, water tanks and fire extinguishing systems at airports, in addition to studies to protect Chlef and El Bayadh airports against flooding. Read more

INFRASTRUCTURE: Delivery of first section of bypass between Port of Oran-East-West Highway at end of June 2024

The first phase of the project to build a bypass between the Port of Oran and the East-West Highway will be delivered at the end of June, according to the Wali of Oran, Saïd Sayoud. The Wali specified that construction work, which is being carried out by an Algerian-Turkish consortium, Makyol, is ‘progressing at a satisfactory pace.’ The first phase of the project extends over a distance of 8 km and includes five structures, including a two-lane tunnel over 930 metres, another that runs for 580 metres, a 680-metre viaduct and an additional road that runs along the seafront. Read more

MARITIME: Italian ship chartered by Algérie Ferries detained in Spanish port

According to press sources, the Italian ship Moby Dada, which was chartered at the end of January 2024 by the Entreprise Nationale de Transport Maritime des Voyageurs (ENTMV), known as Algérie Ferries, has been detained in the Spanish port of Alicante due to ‘deficiencies in safety and maritime pollution that were detected during an inspection carried out by maritime authorities.’ In addition, a bond of 100,000 EUR (107,000 USD) has been imposed on Algérie Ferries. Read more

MINING: Lithium exploration in Tamanrasset and In Guezzam provides positive results

On 2nd May, the Ministry of Energy and Mining announced that the results of preliminary exploration activities for lithium ore in the wilayas of Tamanrasset and In Guezzam were positive, and that there are also indicators other mineral resources and rare earths such as wolfram, tungsten, nobelium, tantalum and others. The ministry noted that exploration was carried out by mining experts affiliated with the Chinese group Ganfeng Lithium Group, as well as executives from the ministry, the state mining industrial group SONAREM, and the National Agency for Mining Activities (ANAM), the National Office of Geological and Mining Research (ORGM) and the Algerian Geological Service Agency (ASGA). The Minister of Energy and Mining, Mohamed Arkab, called for ‘efforts to continue to reach an advanced stage and develop a clear action plan based on physico-chemical studies of the surface and samples, with a view to creating a tangible project for the exploration and processing of lithium ore.’ Read more

OIL & GAS: Algerian oil and gas exports ‘increased by around 2% during Q1 2024’

According to press sources, Algerian exports of crude oil and condensates increased by around 2% during the first quarter of 2024 compared to the previous year. Average Algerian oil exports amounted to 430.97 thousand barrels per day during the first three months of 2024, compared to 423.68 thousand barrels per day during the same period in 2023. In the first quarter of 2024, France was the largest importer of Algerian oil, with an average of 68.8 thousand barrels per day, compared to 61.4 thousand in the same quarter of 2023. Italian imports of Algerian oil also increased to 55.9 thousand barrels per day during the first three months of 2024, compared to 48.8 thousand barrels per day during the same period in 2023. On the other hand, imports from Algeria to Spain, the Netherlands and the United Kingdom declined over the same period. Read more

PHARMA: Minister Ali Aoun oversees shipment of insulin pens to Saudi Arabia

On 28th April, the Minister of Industry and Pharmaceutical Production, Ali Aoun oversaw the shipment of the first batch of rapid insulin pens manufactured by Novo Nordisk at its Boufarik factory (Wilaya of Blida) to Saudi Arabia. The order from Saudi Arabia is for 2.5 million units worth 11mn EUR (11.8mn USD). Foreign currency payments for the shipment are estimated to be worth 4mn EUR (4.3mn USD). Read more

RENEWABLES: Sonatrach and Hecate Global Renewables sign MoU for green energy project

On 29th April, the State-owned group Sonatrach and the American company Hecate Global Renewables (HGR) signed a memorandum of understanding. It its first stage, the MoU is designed to allow Sonatrach and HGR to jointly conduct a feasibility study to examine the possibility of implementing a renewable energy production project in Algeria. This will be followed by a second stage that will examine the feasibility of using this energy in green hydrogen production projects. Read more

Upcoming Trade Events

  • Batimatec [Construction, Contracting, Public works]
    Algiers, 5 May to 9 May 2024
    www.batimatecexpo.com 
  • International Exhibition for Agriculture, Livestock and Agribusiness (SIPSA FILAHA) [Agriculture, Livestock, Agribusiness]    

           Algiers, 20 May to 23 May 2024
           www.sipsa-filaha.com/?lang=en

  • MESUREXPO [Instrumentation, Accreditation, Quality control]
    Algiers, 20 May to 23 May 2024
    www.mesurexpo-dz.com 
  • Dentex [Dentistry, Healthcare]

            Algiers, 22 May to 25 May 2024
            www.dentex.dz 

  • Clinvest [Medical tourism, Healthcare]
    Algiers, 29 May to 1 Jun. 2024
    www.clinvestdz.com
  • International Tourism and Travel Exhibition (SITEV) [Tourism]

           Algiers, 30 May to 2 Jun. 2024
           www.sitev.dz

  • Algerian National Wedding Expo [Events]

           Algiers, 31 May to 06 Jun. 2024
           https://www.facebook.com/salondumariagedz/

           www.algertextile.com 

  • Imlab [Medical imaging, Laboratories]
    Algiers, 23 Oct. to 26 Oct. 2024
    www.imlab.dz
  • International Exhibition for ventilation, Electricity, Heating and Air Conditioning (SIVECC) [Electricity, Heating, Ventilation, Air Conditioning]
    Algiers, 18 Nov. to 21 Nov. 2024
    www.sivecc.dz
  • Algeria WoodTech [Woodwork]
    Algiers, 23 Nov. to 26 Nov. 2024
    www.algeriawood.com
  • Secura [Security, Safety, Emergencies]
    Algiers, 3 Dec. to 5 Dec. 2024
    www.securanorthafrica.com 
  • International Cosmetics Fair (COSMETICA) [Cosmetics, Perfumes, Packaging]

           Algiers, 22 Jan. to 25 Jan. 2025

           www.cosmeticaalgeria.com

  • PrintPack Alger [Printing, Packaging, Paper]

           Algiers, 24 Feb. to 26 Feb. 2025

           www.printpackalger.com

  • Djazagro [Agriculture, Livestock, Agribusiness]
    Algiers, 07 Apr. to 10 Apr. 2025
    www.djazagro.com 
  • Maghreb Pharma [Pharmaceuticals, Health

           Algiers, 21 Apr. to 23 Apr. 2025
           www.maghrebpharma.com/en

**NOW AVAILABLE** | Algeria Q3 2023 Macroeconomic report 

The Itri Insights Q3 2023 Macroeconomic report is now available.

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