As part of the promotion of intra-African investment, the African Export-Import Bank (Afreximbank), in collaboration with the Algerian Investment Promotion Agency (AAPI), successfully organized the Forum on investment in Algeria, “Focus Algeria”, in Algiers, from June 25 to 26, 2024.
The forum aimed to promote investment opportunities in Algeria for African operators and brought together leading Algerian partners and foreign businessmen from across the African continent, as well as heads of economic institutions, financial experts and economists.
The forum provided participants with a platform to exchange ideas, form strategic partnerships, and address key challenges facing investors in Africa, such as market access, financing, and risk management. The forum, which was held as part of the 55th edition of the Algiers International Trade Fair (FIA 2024), also serves as a precursor to the fourth Intra-African Trade Fair (IATF2025), scheduled to take place in Algiers from September 4-10, 2025, and CANEX WKND 2024, also scheduled to take place in Algiers from October 16-19, 2024.
Omar Rekkache, Director General of AAPI, opened the forum, joined by Hocine Zaoui, Director General of the Algerian Chamber of Commerce and Industry (CACI), who represented the Minister of Commerce and Export Promotion. Ayman El-Zoghbi, Acting Director of Trade, Investment and Corporate Finance for Afreximbank, represented Ms. Kanayo Awani, Executive Vice President, in charge of the Intra-African Trade and Export Development Bank.
Mr. Rekkache informed the participants that Algeria had adopted a new investment law to improve the investment system in favor of cooperation and partnership with foreign partners, including other African countries, saying that this law would open new horizons for investors and provide the necessary conditions to move from production to export.
He announced that out of 238 provisional decisions, Algeria had granted 72 final decisions for economic land concessions to investors as part of ongoing efforts to streamline the investment process.
He also announced several unstructured projects aimed at connecting Algeria to other African countries, which are priorities for Afreximbank financing in order 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 in the service of the African continent,” he said.
For his part, Mr. El-Zoghby hailed the forum as an effective platform to strengthen 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 for its commitment to expanding regional integration to strengthen the export capacities of African companies and increase trade with other African countries, including by facilitating the opening of banks in other countries to support Algerian investors.
Trade agreements worth US$590 million were concluded at the forum and the Confederation of Algerian Industrialists and Producers, supported by Afreximbank, decided to send an export mission to Côte d’Ivoire or Senegal to showcase Algerian products. The forum also led to the creation of an Algerian-Malian business council.
