Les deux banques algériennes en Mauritanie et au Sénégal, un atout pour l’intégration économique africaine
Investment and Trade in Africa: Insights from the 11th African Investment and Trade Forum
The African Investment and Trade Forum (AFIC) recently concluded in Algiers, highlighting the essential contributions of Algerian banks operating in Mauritania and Senegal. With nearly 1,000 participants from 43 countries, the forum, organized by the Arab-African Center for Investment and Development (CAAID), showcased the emerging dynamics of economic collaboration between Algeria and its African counterparts.
The Role of Algerian Banks
During the second day of discussions, the significance of the Algerian Bank of Senegal (ABS Bank) and the Algerian Union Bank (AUB) in Mauritania was underscored. These financial institutions facilitate economic and commercial ties, enhancing overall African integration. Amine Boutalbi, president of CAAID, praised the banks’ participation, which signifies a strengthening of economic cooperation on the continent.
The forum also served as a platform for African entrepreneurs and project holders, especially the youth and the diaspora, to connect with national and international banking institutions. This engagement aims to explore funding opportunities and support the realization of innovative projects.
Key Institutions and Their Contributions
The participation of major financial entities like the Islamic Development Bank (IDB), Arab Bank for Economic Development in Africa (BADEA), and African Export-Import Bank at the forum was notable. These organizations advocate for simplifying investment procedures and adopting innovative solutions, which are vital for promoting Algerian exports and enhancing international visibility for Algerian products.
Rabah Fassih, director of promotion and economic exchange support at the Ministry of Foreign Affairs, emphasized Algeria’s increasing commitment to fostering partnerships across Africa. He announced several upcoming economic events, such as the 7th edition of the Algerian Products Fair in Nouakchott, the International Fair of Algiers (FIA) in June, and the intra-African trade fair (IATF) in September. These events highlight Algeria’s investment interest in foreign markets while simultaneously attracting foreign investments.
Prospective Collaboration with Uganda
The forum also explored economic cooperation between Algeria and Uganda, focusing on investment opportunities particularly in manufacturing, renewable energy, agriculture, and services. Attendees noted improvements in the business climate in both nations, resulting from relaxed project execution regulations and better fiscal and banking support for investments.
Ugandan representatives underscored their country’s wealth in natural resources, particularly in mining, energy, and tourism. Julius Joshua Kivuna, deputy head of mission at the Ugandan embassy in Algeria, discussed potential partnerships and bilateral projects, especially in agriculture, including cotton, dairy products, coffee, and the processing of tropical fruits.
He highlighted the tax incentives available for project promoters under the investment frameworks regulated by the Ugandan Investment Agency (UIA), which streamline procedures through a centralized system.
Business Meetings and Bilateral Engagements
In conjunction with the forum, several bilateral business meetings occurred, facilitating discussions between Algerian enterprises and Ugandan counterparts. These meetings targeted establishing trade and investment partnerships across various sectors, including manufacturing, digitization, banking, services, and tourism.
The 11th AFIC agenda included workshops and conferences, combining in-person and virtual formats, along with an economic exhibition. This exhibition showcased diverse sectors such as export, trade, agriculture, agro-industry, tourism, digital transition, energy, renewable resources, construction, public works, pharmaceuticals, investment, finance, transport, and environmental sustainability.
Conclusion: Toward Enhanced Economic Integration
The AFIC highlighted the critical role of financial institutions in fostering investment and trade across African nations. By emphasizing collaborations and actively promoting economic exchange, Algeria continues to position itself as a pivotal player in the continental economic landscape. The forum underscores a collective vision aimed at enhancing intra-African trade, boosting investment opportunities, and promoting economic integration across the continent.
