ALGIERS– Participants in the African Investment and Trade Forum (AFIC11) highlighted, on Sunday in Algiers, the contribution of the two Algerian banks operating in Mauritania and Senegal, which represent an asset for African economic integration. They also emphasized the new dynamic between Algeria and the continent’s countries in terms of economic cooperation.
During the second and final day of this meeting, organized by the Arab-African Center for Investment and Development (CAAID), with the participation of nearly 1,000 operators from 43 countries, the speakers underlined the contribution of
ABS Bank in Senegal (Algerian Bank of Senegal) and AUB (Algerian Union Bank) in Mauritania toward strengthening economic and commercial cooperation between Algeria and these two countries.
In this regard, CAAID President, Amine Boutalbi, expressed his satisfaction with the participation of the two Algerian banks in Senegal and Mauritania at this forum.
He also stressed the importance of this forum in promoting exchanges between investors, entrepreneurs, and project leaders, to support the integration of African economies and promote intra-continental trade.
According to him, the forum offers young African entrepreneurs and members of the Diaspora the opportunity to get closer to national and international banking institutions to explore financing possibilities and turn their projects into reality.
Boutalbi further recalled the “notable participation” of the Islamic Development Bank (IDB), the Arab Bank for Economic Development in Africa (BADEA), and the African Export-Import Bank (Afreximbank) in the forum.
Moreover, he stressed that streamlining procedures and adopting innovative solutions in the investment field are the only way to promote Algerian exports, which will strengthen the presence of Algerian products on the international scale.
