Finance

Algeria announces the opening of public banks’ capital in 2022, again

Tuesday, 07 December 2021 17:39
Algeria announces the opening of public banks’ capital in 2022, again

(Ecofin Agency) - After several postponements, the Algerian government has set a new deadline for opening the capital of public banks to foreign investors. Aïmene Benabderrahmane (pictured), the Algerian Prime Minister and Finance Minister said the operation will take place next year.

The measure is expected to be deployed as part of a comprehensive review of the governance system of public companies, which will result in the listing of several public companies, among others. Last December, the Prime Minister announced a similar measure for this year, but no action has been taken to date. More recently, last August, President Tebboune, during a Council of Ministers, instructed his government to open the capital of public companies, including banks, to foreign investors. As with the previous announcement, there was no follow-up this time either.

Insofar as it will be carried out through the Algiers Stock Exchange, the implementation of this project will bring much more than capital to the beneficiaries. It will contribute to boosting the financial market which remains one of the least attractive on the continent. Last April, the market regulator indicated that the introduction of banks on the Algiers Stock Exchange will unlock promising prospects for the market.

In 2020, the decline in oil revenues led to a sharp decrease in the country’s banking liquidity, the World Bank said in its Algeria Economic Outlook released in spring 2021. According to the institution, bank deposits dropped between May and October 2020.

This situation has been worsened by the withdrawal of savings funds by depositors of Algérie Poste, as well as the withdrawal by the Treasury of liquidity of public enterprises to finance the overall budget deficit.

Chamberline MOKO



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.