Algeria Inks $300M Deal to Supply 2M Payment Terminals to Nigeria
▼ Summary
– Algeria and Nigeria signed a $300 million deal for two million electronic payment terminals at the Intra-African Trade Fair in Algiers.
– The agreement involves Inatel, an Algerian telecom subsidiary, and Chinese manufacturer Morefun Electronic Technology.
– The devices will be manufactured in Algeria before export to Nigeria, enhancing Algeria’s role in Africa’s digital technology market.
– Algeria’s Minister of Post and Telecommunications emphasized the deal’s role in advancing industrial strategy and boosting regional economic integration.
– This initiative supports Algeria’s ambition to become a regional hub for electronic solutions and Africa’s shift toward digital payments.
In a significant boost to regional economic cooperation, Algeria has finalized a $300 million agreement to provide Nigeria with two million electronic payment terminals. This landmark deal, announced during the Intra-African Trade Fair in Algiers, represents a major stride in strengthening technological partnerships across the continent.
The contract was formalized between Inatel, a subsidiary of Algeria’s National Telecommunications Company, and the Chinese manufacturer Morefun Electronic Technology. A notable aspect of the arrangement is that all devices will be produced within Algeria before being shipped to Nigeria, highlighting the country’s growing capabilities in local manufacturing and export-oriented industrial policy.
Algerian officials, including the Minister of Post and Telecommunications Sid Ali Zerrouki and Omar Rekkache of the Algerian Investment Promotion Agency, were present at the signing ceremony. Minister Zerrouki emphasized that the agreement aligns with Algeria’s broader industrial strategy, which aims to enhance domestic production and increase the nation’s footprint in Africa’s expanding digital marketplace.
By supplying these terminals, Algeria not only supports Nigeria’s move toward a more digitized economy but also reinforces its own ambition to become a key player in the regional tech supply chain. This initiative is expected to accelerate financial inclusion and the adoption of electronic payment systems throughout West Africa, fostering greater economic integration and technological advancement across the region.
(Source: MEA Tech Watch)