Algerian Radio
The Algerian Bank in Senegal (ABS), which has been operating in the country since late 2023, plans to open a branch in the Nigerien capital, Niamey, announced the bank's General Manager, Abdelhafid Haned, on Sunday in Algiers. He added that another similar structure will be opened in Ivory Coast at a later date.
He specified, in a statement on the sidelines of the second and final day of the 12th edition of the Investment and Trade Forum organized by the Arab-African Centre for Investment and Development (CAAID), that "the application for accreditation for a new branch of the bank in Niger was submitted about ten days ago to the competent monetary authorities. The opening is expected by the end of the current year or early 2027, within the framework of the Algerian vision aimed at strengthening the banking presence in Africa and supporting Algerian companies and operators on the continent."
In this regard, Mr. Haned emphasized that the future branch in Niger will constitute "a new added value and an important step" for the ABS bank on the continent, given the economic potential in this country, but also the agreements recently concluded between Algeria and Niger. These notably include those signed by Sonelgaz, Sonatrach, and Algérie Télécom, which will open up enormous prospects for cooperation in various fields.
The same official indicated that the presence of Algerian banks abroad will support the evolution experienced by Algerian-Nigerien relations, adding that the opening of the two new branches will transform the Algerian Bank in Senegal into a "regional banking hub" in West Africa.
He also affirmed that ABS, in addition to financing products, provides businesspeople with advisory and guidance services regarding the legal and regulatory framework of the Senegalese market, whether for investment or export to this country. This includes personalized consulting solutions, particularly regarding the most suitable and profitable business sectors for operators.
It is worth recalling that ABS was created with a capital of 100 million dollars, in partnership between the National Bank of Algeria (BNA, 40% of the capital), the Crédit Populaire Algérien (CPA, 20%), the External Bank of Algeria (BEA, 20%), and the Bank of Agriculture and Rural Development (BADR, 20%).
For his part, Aboubacar Diallo, Executive Director of the Algerian Bank in Mauritania (Algerian Union Bank - AUB), noted the growing dynamic of the Algerian-Mauritanian economic partnership, especially following the opening of three branches in Mauritania. He highlighted that the volume of bilateral trade reached around 500 million dollars last year.
During the second day of the forum, the participants—including African ministers, experts, technicians, and business leaders—insisted on the need to combine everyone's efforts and invest in human capital to achieve sustainable development across the continent's countries, enabling the optimal and rational exploitation of resources.
They also called for the creation of a unified digital platform for the transfer of data and knowledge, the facilitation of intra-African communication, and the development of modern payment methods.
