ALGIERS – June 2024 – During a Labor Day address at the trade union headquarters, the President of Algeria celebrated the nation’s economic resurgence, positioning it as Africa’s third-largest economy, trailing only South Africa and Egypt.
Algeria has adopted a new economic strategy emphasizing the development of processing industries, marking a departure from its role as a consumer of finished goods. The agri-food sector stands out as a prime example, with the President commending “exceptional results in the production and processing of food and agricultural products.”
The President highlighted that over 90% of products on Algerian tables are now sourced locally, signaling a significant shift towards self-sufficiency. Plans are underway to further bolster local production, with sugar and cooking oil slated for complete domestic manufacture by year-end.
Tafadis, a subsidiary of the Madar Group, has partnered with the American company Reasol to establish an integrated sugar industry project in Algeria. This venture encompasses large-scale sugar beet cultivation and industrial processing, aiming to produce 100% Algerian white sugar meeting international standards.
In the cooking oil sector, Cevital’s plant in Béjaïa, inaugurated by the President a year ago, is poised to meet domestic demand and facilitate exports. With a capacity of 2 million tons per year, the plant processes soybeans, sunflower, and rapeseed to produce 100% locally sourced cooking oil.
Additionally, the Koutama Agrifood complex in Taher, Jijel, is set to contribute to 20% of the national demand for cooking oil upon completion, while also producing animal feed.
Diversifying the agricultural landscape, a joint venture between Algeria and Qatari operator Baladna aims to produce powdered milk locally in Adrar. Encompassing a 117,000-hectare area, this initiative is poised to fulfill 50% of the national demand for powdered milk, generating an estimated value of $3.5 billion and creating 5,000 direct jobs.
Beyond the agro-food domain, Algeria is witnessing a revitalization of its industrial machinery across various sectors. The President announced plans for the production of household appliances with a high rate of local integration by year-end.
In the pharmaceutical sector, Algeria boasts a coverage rate of approximately 70% for local pharmaceutical products. Notably, nearly 60% of insulin distributed in the national market is domestically produced, with Algerian laboratories venturing into exports.
Moreover, the automotive industry has experienced a resurgence, with Fiat leading the charge in local production. Encouragingly, Fiat’s engagement with aspiring operators signals a promising future for local automotive manufacturing.
With a robust growth rate and a burgeoning GDP, Algeria’s economic trajectory appears promising. As it aims for ambitious growth targets, the nation’s commitment to bolstering domestic production across key sectors sets a strong foundation for sustained development.
Source: L’Algérie Aujourd’hui
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