In a significant development, Algeria is set to open a new Algerian bank branch in the West African nation of Côte d’Ivoire before the close of the year 2023. This announcement was made by the Prime Minister, Ayman Ben Abderrahman, during a speech given on the sidelines of his participation in the Algerian-Tunisian Economic Forum.
This move follows the recent inauguration of two Algerian banks in Mauritania and Senegal, signaling a clear expansion strategy in Africa. The Prime Minister also highlighted the simultaneous opening of permanent exhibitions showcasing Algerian products in Nouakchott and Dakar.
In line with Algeria’s efforts to strengthen its presence in Africa, three additional air routes have been launched to connect Algeria to key African destinations: Johannesburg in South Africa, Addis Ababa in Ethiopia, and Douala in Cameroon. Moreover, Algeria is enhancing its land border crossings with neighboring countries and establishing a maritime link between Algerian ports and those in Mauritania and Senegal.
These initiatives are expected to bring significant value to the Algerian economy. They leverage the availability of a qualified workforce, competitive production costs, and affordable energy resources, which will undoubtedly boost bilateral trade and empower Algerian businesses to access and expand their presence in these markets.
Additionally, Algeria is keen to stimulate economic activity through the construction of a road connecting Tindouf in Algeria to Zouérat in Mauritania. This project, set to become operational in the near future, will not only strengthen ties between Algeria and Mauritania but also open up opportunities for further economic engagement with West Africa.
Algeria’s proactive steps to expand its economic footprint in Africa through the establishment of new banks, air routes, border crossings, and infrastructure projects reflect its commitment to fostering regional cooperation and enhancing trade ties. The opening of an Algerian bank in Côte d’Ivoire is a noteworthy development that underscores Algeria’s growing presence and influence on the African continent.
