Algeria: Shady “businessmen” and trading “barons” steeped 300,000 SMEs into bankruptcy

The national Association backing small and medium-sized enterprises in Algeria has issued a fact-finding report showing that about 80 percent of the micro-enterprises established within the framework of the ANSEJ projects have gone bankrupt because of various shadowy and illicit practices.

The Association’s blasting report of which Echorouk got a copy said shady “businessmen”

and “barons” activating in ports and airports have clamped down a nefarious monopoly notably on imported products and equipment without any respect for the laws and regulations notably by failing to live up to their required payment of their long-term banking debts.

The report also pointed to the negative fallout stemming from the abusive campaign pursued by the banks on debt collection, and the tax authorities against thousands of beneficiaries the back-up mechanisms set up by the ANSEJ, ANGEM and CNAC at national level, coincided with a difficult juncture marked by the collapse of oil prices stressing that this untoward situation may lead to disastrous consequences.

The report further noted that several factors led to the virtual bankruptcy of some 80 percent of indebted enterprises, the equivalent to more than 300,000 small and medium-sized enterprises across the national territory which are now in the red.

Despite Echorouk’s strenuous efforts to get in touch with the Director-General of the National Agency for the support of youth employment (ANSEJ)  for more details and explanations  on the subject, our queries have unfortunately  been inconclusive.