Promoters of ailing businesses founded by young people in Algeria will now benefit from the refinancing of their companies, says the Algerian ministry in charge of micro-enterprises, referring to a presidential decree published in number 1 of the Official Journal (JO). In a press release, the ministry specified that the new scheme is covered in decree N 20–441 of December 30, 2020 which amended and supplemented presidential decree N96–234 of July 2, 1996, relating to support youth employment.

Under the terms of the said decree, “young promoters can now benefit from the refinancing of their companies in difficulty”.

 To qaulify to benefit, the amount of the investment may not exceed ten (10) million Algerian dinars ($75k). The investment threshold is also cumulative according to the number of young promoters, especially when the project is carried out in the form of a consortium. This is with a view to promoting synergy between micro-enterprises. 

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According to the decree, “the investments must have been made by young promoters either individually, collectively or in the form of a group, in accordance with the laws and regulations in force.”

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Under article 09 of the same decree, “young developers can equally benefit from the use of premises in specialized micro-zones set up as rental, for the production of goods and services”.

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By the provisions of the same decree, the name of “the National Agency for the Support of Youth Employment” has been changed to the “National Agency for Support and Development of Entrepreneurship”.

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