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Wednesday, Nov 20th

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Algeria: Mobilis to list on Algiers stock exchange

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Algerian mobile operator Mobilis is among eight state-owned firms set to list on the Algiers stock exchange.

Algeria’s government has authorised the listings of the state firms which range from the likes of telecoms to cement companies.

The move is aimed at diversifying the African country’s ‘over-regulated’ economy, state media said on Thursday.

Just four companies are listed on the Algiers stock exchange.

"This is a strong signal from the government to boost the economy and diversify the financial resources," head of the Algerian capital markets authority, Abelhakim Berrah, was quoted in Algerian government-run newspaper El Moudjahid.

Other companies set to be listed include state bank Credit Populaire d'Algerie (CPA) and insurance company CAAR.

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