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November 24, 2024 | 1 month ago

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Start-up financing to be expanded via the public and private sectors

The 15th edition of the “Rakmana” forum was organized by the Groupement Algérien des Acteurs du Numérique (GAAN) (Algerian Digital Players Group) in collaboration with Algérie Télécom on “the role of startups and micro-enterprises in economic development”.

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The forum, chaired by Ms Nacima Arhab, Secretary General of the Ministry of the Knowledge Economy, Startups and Micro-enterprises, highlighted the challenges of financing startups in Algeria. The public ASF (Algerian Startup Fund), created in 2020 by six public banks, is an example of efforts to support high-potential startups by investing in their equity.

Minister Noureddine Ouadah called for the acceleration of the startup ecosystem, underlining the startups' role in disruptive innovation and their importance to the digital economy. However, the lack of financing remains a major challenge, with traditional banks reluctant to invest in this high-risk sector.

As part of its economic diversification and African leadership strategy, Algeria is seeking to overcome these obstacles by strengthening the entrepreneurial ecosystem and providing solutions tailored to the needs of these innovative companies.


November 24, 2024 | algeria-logo

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