The Algerian government is increasingly showing great friendship with the country’s startup ecosystem. Apart from recently tearing down the boundaries hitherto restricted startups from participating in Algerie Telecom’s public procurement processes, the country’s Minister of Post and Telecommunications, Brahim Boumzar, has announced the official launch of a partnership project between Algeria Post and startups.
Here Is What You Need To Know
- According to Mr. Boumzar, the objective of the partnership is to support the postal sector to accelerate the popularization of electronic payment.
- The minister explained that the leaders of startups will be certified as approved financial agents after meeting the conditions specified in the specifications.
- The startups will also be responsible for supporting economic operators in the procurement process with Algeria Post, until various means of electronic payment are obtained.
- The minister also said that the startups can use payment services such as the QR Code, as well as the installation and maintenance of equipment.
- This approach is part of the realization of the commitments of the President of the Republic, who attaches great importance to young entrepreneurs to revive the national economy.
Read also: A Look At The 26-Year-old Algerian Yacine Oualid, Africa’s First Ever Minister of Startups
A Country Greatly Supporting Startups In Recent Times
In December 2020, Algerie Telecom, Algeria’s state-owned telecom operator, unveiled new specifications for its calls for tenders. The new specifications would facilitate access of over 2,300 technological microenterprises to public procurement.
Labelled startups and incubators in Algeria would also be the greatest beneficiaries of the country’s newly passed finance law. The 2021 Finance Bill which was submitted to the country’s Council of Ministers on Sunday 04 October 2020, provides for changes in taxes (Tax On Professional Activities, TAP; and Value-added Tax VAT). Under the law, companies in Algeria with a startup label will be exempt from several taxes, starting with the TAP (tax on professional activity) and the IBS (tax on corporate profits. companies) for a period of 2 years from the date of obtaining the said label.
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