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October 22, 2025 | 2 days ago

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Financing start-ups in Africa: Algeria mobilizes $1 billion

Algeria has mobilized a budget of $1 billion to finance start-ups in Africa as part of the African Start-up and Young Innovators Fund, launched by the President of the Republic last September.

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At the African ministerial meeting held on the sidelines of the 16th session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva, Algerian Minister of Foreign Trade Kamel Rezig reaffirmed Algeria's commitment to the development of the African continent. He announced the creation of an Algerian fund dedicated to supporting African projects in the fields of education, health, development, and humanitarian aid.

In line with President Abdelmadjid Tebboune's guidelines, Algeria supports several major continental projects, including the Trans-Saharan Highway, the Trans-Saharan Gas Pipeline, and linking Africa to a high-speed Internet network. The minister emphasized the importance of African solidarity, exchange of experiences and joint investment in infrastructure and value chains.

Rezig also highlighted the key role of the African Continental Free Trade Area (AfCFTA) in promoting economic integration by removing trade barriers and facilitating the movement of goods, services, and capital. Finally, he called for the equitable management of African debt, supporting the creation of an independent African credit rating agency to strengthen financial justice on the continent.

October 22, 2025 | algeria-logo

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