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A technical partnership agreement between Algeria and the Chinese group China Electronic Financial Equipment Systems (CEFES) is in preparation, with a view to locally producing electronic payment equipment and strengthening technological cooperation with the Algerian group Inatel, a subsidiary of the public group Elec El Djazair.
This project was at the center of the meeting held between the Minister of Industry, Yahia Bachir, and a high-level delegation from the Chinese group CEFES, led by its chairman of the board of directors, Hu Dan. This was indicated in a press release from the ministry specifying that the meeting between the two parties was held Tuesday evening.
The Chinese group, recognized among the world leaders in the manufacturing of electronic payment equipment, including electronic payment terminals (EPT), and integrated cash management solutions, has expressed its desire to strengthen its presence in Algeria and transfer its technological know-how.
The meeting focused on a technical partnership agreement for the production of electronic payment equipment and on the examination of cooperation mechanisms with the Inatel group, a subsidiary of the public group Elec El Djazair, according to the same source, adding that this meeting also saw the presence of the president and CEO of the public group Elec El Djazair, that of the ACS group, as well as several executives from the Ministry of Industry.
After reading the cooperation proposals, Minister Yahia Bachir welcomed the initiative and insisted on the need to accelerate the realization of the partnership to develop local production with high added value. He stressed that this project is part of the national strategy for digitization and modernization of the banking sector, in accordance with the government’s guidelines and the directives of the President of the Republic, Abdelmadjid Tebboune.
For his part, Hu Dan reaffirmed the Chinese group’s willingness to support Algeria in its digital transition, through the manufacturing of electronic payment equipment, the implementation of banking liquidity management solutions, and the implementation of technology transfer programs.
In this regard, the two parties agreed to strengthen their technological and industrial partnership in the field of electronic payment and liquidity management, in order to support national economic development and to further enhance Algerian technological capabilities.
It should be recalled that the company Inatel had signed a contract to export 2 million electronic payment terminals (TPE) to Nigeria, for a value of 300 million dollars, in partnership with the Chinese company Fujian Morefun Electronic Technology, on the sidelines of the Intra-African Trade Fair (IATF 2025) which was held in Algiers last September.