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Algeria has announced the mobilization of a USD 1 billion budget to support start-ups and young innovators across Africa. This investment forms part of the African Start-up and Young Innovators Fund, an ambitious initiative launched by President Abdelmadjid Tebboune in September, aimed at fostering entrepreneurship, innovation, and sustainable growth across the continent.
During 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 steadfast commitment to advancing Africa’s development agenda. He revealed the establishment of a special Algerian fund dedicated to financing projects in education, healthcare, infrastructure development, and humanitarian assistance, underscoring Algeria’s broader vision of solidarity and partnership with fellow African nations.
Minister Rezig highlighted that this initiative aligns closely with President Tebboune’s strategic directives to deepen regional integration and support large-scale continental projects. Among these are transformative infrastructure ventures such as the Trans-Saharan Highway, the Trans-Saharan Gas Pipeline, and efforts to connect Africa through a high-speed Internet network, all of which are expected to enhance intra-African trade and connectivity.
He further stressed the importance of African unity, knowledge exchange, and joint investment in key sectors that can strengthen local economies and improve value chain integration. Rezig also pointed to the pivotal role of the African Continental Free Trade Area (AfCFTA) in accelerating economic integration by eliminating trade barriers and facilitating the free movement of goods, services, and capital across the continent.
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Concluding his address, the minister called for a fair and transparent approach to managing African debt and advocated for the creation of an independent African credit rating agency. Such an institution, he argued, would promote financial sovereignty and justice, ensuring that African economies are evaluated through a lens that reflects their realities and growth potential rather than external biases. Through these initiatives, Algeria seeks to position itself as a driving force in Africa’s collective pursuit of economic independence, innovation, and sustainable development.
