ALGIERS, September 9, 2025 – Algerian Qatari Steel (AQS) signed a contract exceeding $1.2 billion with Shelter Afrique Development Bank (ShafDB) on Tuesday in Algiers, as part of its participation in the fourth edition of the Intra-African Trade Fair (IATF 2025).
The signing ceremony was held at the Palais des Expositions (Pins Maritimes) and attended by several dignitaries, including Kamel Rezig, Minister of Foreign Trade and Export Promotion; Tayeb Zitouni, Minister of Domestic Trade and National Market Regulation; Zouhir Ballalou, Minister of Culture and Arts; Salem Ahmed Zaid, Secretary General of the Ministry of Industry; and Omar Rekkache, Director General of the Algerian Investment Promotion Agency (AAPI).
In a statement to the press, AQS’s interim CEO, Sofiane Chaib Setti, highlighted that “this significant contract, finalized on the sixth day of the event, will enable the company to export to numerous African countries,” emphasizing that the agreement is the culmination of extensive prior efforts.
Meanwhile, Amadou Thiam, the regional representative of ShafDB for North Africa, West Africa, and Central Africa, expressed that this agreement represents “great pride for Shelter Afrique, particularly as it will allow the company’s products to be exported to various markets across the continent,” noting that the bank operates in 44 African countries.
“This agreement will also enhance the bank’s activities and contribute to strengthening intra-African trade,” he added.
