Stock Funds To Save Impotent Institutions, Frozen Projects

Algiers Stock Exchange Foundation prepared an intensive program to initiate the financing of institutions as an alternative to the public treasury, which the government has officially announced that is stopped the funding in light of the oil crisis that led to the erosion of half of its revenues.

At the beginning of 2017 the stock market will be a new alternative for the recovery of investment projects in Algeria, as government prepared in  this framework a deal for the acquisition of a new trading system from a foreign trader, which means that this will make the trading sessions open throughout the week, rather than making it fixed only for two days.

Algeria Stock Exchange Director, Yazid Belmihoub, told Echorouk about preparing for the intensive program that includes seven public institutions in the coming weeks, which are the institutions that declared their willingness to open up to the stock market in 2013, including in the forefront the insurance company “CAAR,” in addition to private dealers, as it is preparing in the coming days, one of the small and medium-sized companies to join the Stock Exchange of Algeria, at a time it opened consultations with employers’ organizations and the Patronat, including the forum heads of institutions that is headed by Ali Haddad, in order to bring in the largest businessmen and the owners of the major institutions of the Stock Exchange.

“Stock market is facing today the difficult financial circumstances of Algeria, and it can contribute significantly to the financing of institutions and the national economy and major projects as well. Failure of the Cement Company “Ain Al Kebira” should not be taken as a bad sample of the failure of joining public institutions, because the latter’s withdrawal from the stock market is due to the inappropriate timing of accession, which coincided with the summer period, and the large proportion of openness that is has chosen, which does not fit the market demand, while the company opened the doors of dialogue with the institutions and citizens to bring a larger proportion of funding”.

“Social networks like Twitter and Facebook are useful to persuade Algerians of the importance of the stock market and the need to invest in the stock world, and organize open doors for the definition of the institution. We will launch soon and for the first time, a communication strategy of the stock exchange by the possibility of buying the stocks electronically, which would be a stimulus for investors. At the beginning of March we started the use of a technological application in the App store, Android or via the mobile phone to check out the stock market news and read their schedules, which is a downloadable application among all Algerians”.