Our thinking

Capital markets

In looking toward economic diversification, the role of the stock market as an alternative source of private financing will help to steer economic activity away from dependence on hydrocarbons, and help bolster balanced growth.

Created in 1997, the Algiers Stock Exchange (SGBV Bourse d’Alger) is one of the world’s youngest capital markets and has grown steadily in recent years. Its future is largely dependent on its adaptability and ability to offer innovative investment services on a local level.

With 13 state- and privately owned entities operating in the bond market on the Algiers Stock Exchange, $2 billion in bonds have been issued since its launch.

The Algerian government has set out an ambitious agenda to develop its domestic capital markets through privatization initiatives, loosen regulatory requirements and promote the Algiers Stock Exchange as an alternative source of capital for firms and investors.

The current market capitalization of companies listed on the Algerian stock exchange represents only 0.03 percent of the national GDP and is deficient in contrast to Algeria’s neighbors. It also does not support the Algerian government’s objectives of developing a viable financial sector and growing the nation’s economy. As a result, foreign investors are to be allowed to buy shares on the Algiers Stock Exchange, and the number of listed companies is expected to rise from five to 50 in the next five years. Short-term national development goals include a market capitalization of $10 billion, equivalent to 5 percent of GDP.
Algeria’s focus is on market development and stimulating trade, allowing it to become more competitive with other MENA markets, and increase domestic market contribution to GDP. The government also is working on various measures and reforms to create a simple, modern investment process that is secure, efficient and attractive to both domestic and foreign investors.
In 2015, Tell obtained an IOB license to act as a stock exchange intermediary from the Algerian market regulator (COSOB), thus beginning operation as the only specialized and independent brokerage active on the Algiers Stock Exchange. Our goal is to help create conditions for successful listings and facilitate a liquid secondary market.

We focus on the provision of professional services fully tailored to meet the high standards of the 21st Century investor.