During the ordinary general meeting held on May 15, 2016, the committee of employers of Algérie Telecom has decided to take part in the bond issuance projected by the firm. According to the firm’s former CEO, Azouaou Mehmel, speaking on Dzaîr News, the firm will use proceeds of the bond to develop its network. The money initially reserved for this, by the company, was not enough as Algeria’s currency, the dinar, devaluated.

Newspaper El Watan reports that after the meeting to which took part Houda-Imane Faraoun, Minister of Post, Communication and Information Techonology, and Tayeb Kerbal, Chairman of Algérie Telecom, the employers committee decided to collect, over ten months, 10,000 dinars ($91) from salaries of employees, 1,000 dinars ($9.1) each month. With close to 21,000 employees, that would make a total of 210,000,000 dinars ($1,911,000).

However, still according to El Watan, the firm’s management said no decision was taken regarding fee collection from employer’s salaries. A source approached by the newspaper affirmed: « Algérie Telecom’s management hasn’t taken any decision regarding the collection of any fee from its employers’ salaries. The social partner has decided to sensitize employees about the bond. Workers are free to take part in it or not. However, a procedure will be put in place for those who want to take part in the operation”