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2024, the year of stock market metamorphosis
Algerian financial market
The Commission for the Organization and Supervision of Stock Exchange Operations (Cosob) published its 2024 annual report the day before yesterday, Sunday, marking a decisive step in the evolution of the Algerian financial market. The past year was marked by a profound transformation, driven by major regulatory reforms, an acceleration of digitalization and a renewed confidence among investors.
According to Cosob President Youcef Bouzenada, “the year 2024 laid the foundations of a solid and transparent market”, reaffirming the Commission’s desire to “continue in 2025 its mission of modernization and innovation in the service of financing the national economy”.
This dynamic resulted in a spectacular increase in the main stock market indicators. The market capitalization reached 521 billion dinars, compared to 71 billion in 2023, an increase of more than 630%. This historic leap is largely attributed to the IPO of Crédit Populaire d’Algérie (CPA), the first listed bank, which raised 112 billion dinars from more than 42,000 investors. The total value of transactions also exploded: +440% to reach 2.76 billion dinars, while the volume of trade increased by 35%, reaching around 1.3 million shares. “These results illustrate the growing confidence of investors and the renewed vitality of the market,” underlines Cosob.
Structural reforms
On the regulatory front, two major texts have consolidated the legal framework and strengthened market transparency. Cosob Regulation No. 24-01 of July 17, 2024, dedicated to the prevention of money laundering and the financing of terrorism, aligned the national system with international standards.
For its part, Regulation No. 24-02 of October 23, 2024 introduced Collective Venture Capital Investment Organizations (Opcr), opening new financing prospects for start-ups and innovative SMEs. These reforms are a continuation of the general regulations of the Stock Exchange (No. 23-04), adopted in 2023, which had already modernized the functioning of the market and expanded access to a greater number of companies.
2024 also marked a technological turning point. The launch of the Single Window for the financial market has simplified the IPO process by centralizing all procedures and offering tailor-made support to candidate companies. At the same time, the electronic financial market portal made it possible to submit and monitor authorization applications online, a first in the national stock market landscape.
Ambitious prospects for 2025
These innovations have helped to streamline interactions between market players and reduce processing times, thus contributing to the overall modernization of the financial ecosystem.
For the current year, Cosob intends to capitalize on these achievements. Its priorities include the operational implementation of the Opcr system, the strengthening of the Single Window as a central entry point for companies and the adoption of an incentive plan for stock market listing.
The Algiers stock market now has eight listed securities: Alliance Assurances, Biopharm, El Aurassi, Saidal, Crédit Populaire d’Algérie (CPA), Banque de Développement Local (BDL), AOM Invest SPA and Moustachir, the first Start-up to join the official listing.
With these advances, 2024 will remain as the year when the Algerian financial market reached a decisive milestone, asserting itself as a strategic lever for financing the national economy and a symbol of rediscovered confidence.
Djamila Sai