The Minister Delegate in charge of micro-enterprise in Algeria, Mr. Diafat Nassim has revealed that of the 380,000 enterprises created under the National Support Agency for Youth Employment (Ansej) system, more than 70% are in crisis.
Djafat Nassim, during his intervention on the airwaves of the radio Chaine III, assured that his department plans to help these companies in difficulty by a series of measures:
“Among these companies in difficulty, we have those who do not have the capital to restart their activities. For this category, we are going to institute, as of now, the rescheduling of debts over 5 years with a deferment of one year and the elimination of late payment penalties ”, he said.
Concerning the people, carriers of Ansej projects, “deceased” or “victims of natural disasters”, the Minister Delegate, in charge of micro-enterprise affirmed that the State intends to proceed to a partial cancellation of their debts “on a case by case basis.
Furthermore, for those who embezzled funds from the projects, the official clarified that there will be no criminal treatment for those who embezzled the funds, stating: “Even if criminal prosecution is excluded against those with” hijacked ”projects, it will not, however, be a question of erasing the slate, there will be no criminal treatment for those who have embezzled the funds. We gave them, however, a 10 or 15 year deadline to pay off their debts ”.
A Look At What ANSEJ Does
- Algeria’s National Agency for Youth Employment Support ( Ansej ) is the country’s organization responsible for managing a credit fund for the creation of businesses. She participates in the public employment service .
- Ansej is in charge of implementing a support system for business creation for people under 40 years of age. It manages a credit fund, granting loans at zero interest rate (0 rate loans), complementary to bank loans. Committees composed of representatives of banks and institutions grant the loans after examining the files of the promoters.
- A bank guarantee fund supplements the financing instruments. Algeria ‘s Ansej advisors provide follow-up to promoters who have obtained a loan.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer