Algeria Trade Investment Forum

Algiers, 16 July 2024: - Within the framework of promoting Intra-African Investment, African Export-Import Bank (Afreximbank) in collaboration with The Algerian Investment Promotion Agency (AAPI), successfully hosted Algeria Investment Forum, "Focus Algeria", in Algiers from 25 to 26 June 2024. The forum aimed at promoting investment opportunities in Algeria for African operators and brought together key Algerian partners and foreign businessmen from across the African continent, as well as officials from economic institutions, financial experts, and economists.

The Forum offered participants a platform to exchange ideas, form strategic partnerships, and tackle key challenges faced by investors in Africa, such as market access, financing, and risk management. The forum, which was held in the context of the 55th edition of the Algiers International Fair (FIA 2024), also serves as a precursor of the fourth Intra-African Trade Fair (IATF2025), scheduled to take place in Algiers from 4 to10 September 2025, and CANEX WKND 2024, which will also hold in Algiers from 16 to 19 October 2024.

Omar Rekkache, Director General of AAPI, opened the forum, and was joined by Hocine Zaoui, Director General of the Algerian Chamber of Commerce and industry (CACI), who represented the Minister of Trade and Export Promotion. Ayman El-Zoghbi, Acting Director, Trade, Investment and Corporate Finance, at Afreximbank represented Mrs. Kanayo Awani, Executive Vice President Intra Africa Trade and Export Development.

Mr. Rekkache informed the participants that Algeria had adopted a new investment law to improve the investment system in favour of cooperation and partnership with foreign partners, notably from other African countries, saying that that law would open new horizons for investors and provide necessary facilities to transition from production to export.

He announced that, out of 238 provisional decisions, Algeria had granted 72 definitive decisions for economic land concessions to investors in ongoing efforts to streamline the investment process. He also announced several unstructured projects aimed at linking Algeria with other African countries, prioritized for Afreximbank financing to support Algerian exports of goods and services across the continent. "Algeria, the gateway to Africa, intends to fully play its role as an economic power at the service of the African continent," he said.

On his part, Mr. El-Zoghby welcomed the forum as an effective platform for enhancing investment opportunities between Algeria and other African countries, noting the exchanges, communication and formation of strategic partnerships that resulted from the event.

Mr. El-Zoghby commended Algeria's commitment to broadening regional integration to enhance African companies' export capacities and increase trade with other African countries, including by facilitating the opening of banks in other countries to support Algerian investors.

The forum recorded the conclusion of business deals worth US$590 million and a partnership between the Nigerien Petroleum Products Company (SONIDEP) and ELSEWEDY for their expertise in EPC for the construction of a refinery in Niger. On Intra-African Trade facilitation the Forum adopted a decision by the Confederation of Algerian Industrialists and Producers, supported by Afreximbank, to send an export mission to Cote d'Ivoire or Senegal to showcase Algerian products as well as the establishment of an Algeria-Mali Business Council.