The “Conseil des Participations de l’Etat” (CPE) has approved a 30% partial opening of the capital of Banque de Développement Local (BDL), paving the way for the bank’s flotation on the Algiers Stock Exchange.
This landmark decision was announced following the CPE meeting held on Wednesday, December 4, under the chairmanship of Prime Minister Nadir Larbaoui.
“During this meeting, the CPE gave its approval for a partial opening of the capital of the Banque de Développement Local (BDL) up to 30%, with a view to its listing on the Algiers Stock Exchange for public subscription,” stated the communiqué issued after the meeting, as reported by the Algerian Press Service (APS).
The move is part of a broader strategy aimed at strengthening the governance of public banks and revitalizing the Algiers Stock Exchange. According to the communiqué, the decision aligns with the President of the Republic’s directives to enhance the role of the stock exchange in investment financing and to support economic development.
In addition to the partial privatization of BDL, the meeting addressed legal procedures concerning the transfer of ownership of real estate and movable property seized in final judicial rulings related to anti-corruption cases. The assets will be transferred to public institutions and bodies for further utilization, underscoring the government’s commitment to combating corruption and fostering transparency.
This partial opening of BDL’s capital marks a significant step in Algeria’s efforts to modernize its financial sector and attract greater public participation in the country’s economic transformation. The decision is also expected to stimulate investor confidence and encourage a more dynamic role for the stock market in financing national projects.
As the plan unfolds, all eyes will be on the Algiers Stock Exchange and how this initiative impacts Algeria’s financial and economic landscape.
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