The digital transformation of African economies is gaining momentum, with Algeria digitizing its financial sector.

La Commission d'organisation et de surveillance des opérations de bourse (Cosob) d'Algérie, en collaboration avAlgeria plans to electronic stock exchange order submission on June 2nd, a release dated May 29th announces.

The initiative launched in collaboration between the Securities and Investments Organization and Monitoring Commission (COSOB) and the Government Authority for Electronic Certification aims to streamline stock market transactions by allowing investors to electronically submit buy and sell orders through authorized intermediaries. 

For COSOB, the digitization plan aligns with "the dynamic growth of the financial and stock market in Algeria, fulfilling the commitment of President Abdelmadjid Tebboune to develop financial and stock markets to finance the economy,” informs the statement quoted by Algérie Presse Service.

This initiative comes on the heels of new mechanisms approved by COSOB last November to revitalize trading practices and stimulate activity on the Algiers Stock Exchange.

Algeria, like many African nations, is embracing digital transformation. In September 2023, the authorities established the High Commission for Digitalization, tasked with implementing the National Digital Transformation Strategy (2024-2029) and achieving a comprehensive digitalization of Algeria by 2034.

Adoni Conrad Quenum