Algeria is second in Africa in the field of growth and prosperity of emerging enterprises – Algerian Dialogue


Wissam Bodoumi, advisor at the Ministry of Emerging Enterprises and the Knowledge Economy, said on Tuesday that Algeria today ranks second in Africa in the field of growth and prosperity of emerging enterprises, according to the 2023 global classification.
Bodoumi’s statements came on the waves of the Algerian Radio One Channel, ahead of the opening of the Second African Conference for Start-ups in the capital today, Tuesday.
Bodoumi explained that the aforementioned classification takes into account the size and number of operating institutions, as well as the diversity in the fields of activity of these institutions, which today includes more than twenty specializations.
The radio guest considered that the second edition of this event will work to lay real foundations for cooperation among African countries in the field of developing the emerging enterprise sector, by crystallizing a common vision that allows for strengthening the business climate in order to enable the growth of these enterprises and confront obstacles.
Within this context, the Second African Conference is expected to witness the participation of delegations from 30 countries, and representatives of European Union and North American countries, in addition to the attendance of 10,000 entrepreneurs and more than 150 prominent experts in the field of innovation, as well as two hundred investors who were invited to address the nature of the environment. Investment in the African continent.

Roadmap and financing mechanisms

The advisor at the Ministry of Emerging Enterprises and Knowledge Economy stated that the 13 workshops for this edition are expected to discuss issues related to African cooperation, the problem of financing, and the role of these institutions in stimulating economic growth and creating new work opportunities on the continent.
She said that Algeria has worked to create a national fund for emerging enterprises to accompany young businessmen who have obtained the “emerging” label, and has also recently taken the initiative to adopt a new mechanism for participatory financing, which is reliable in order to attract a larger number of investors and accompany small enterprises that have not obtained It receives funding from other parties, within the framework of diversifying financing mechanisms.

Establishment of the “African Fund of Funds”.

The radio guest expected that the work of this conference would result in laying the first building block for the creation of the “Fund of African Funds,” which was approved by the Ministerial Summit last year in its first edition.
She pointed out that the goal of the aforementioned fund is “to mobilize funds on the African scene for the benefit of small enterprises,” and to transform the current communication points into a general and permanent secretariat of the conference, whose mission is to set the road paper related to ways to collect and benefit from these funds at the continental level.

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