Algeria Boosts Economy by Unleashing Culture of Start-Up Enterprise

In an effort to boost its economy, Algeria is creating a culture of start-up business enterprise.  Evermore entrepreneurs are seizing this opportunity  and starting businesses, and some with great vision and ambition. One such example is Yassir, a transport service already operating in several countries in the region.

The company Yassir is a pioneer of Vehicle for Hire (VFH) in Algeria, where it was founded in 2017 by two childhood friends. It now has 6 million users in the country and more than 40,000 partner drivers.

The group raised 30 million dollars from investors last year, and already offers its services across the Maghreb, West Africa, Europe and Canada. It employs more than 650 people worldwide, many of them are in Algiers.

But Yassir is a tree hidden in a forest of Algerian young tech companies, gradually freed from bureaucratic constraints and encouraged to take risks. The number of confirmed start-ups has doubled this year. And all of them have been supported by Algeria Venture, a public accelerator that helps project holders to scale-up, raise funds and solve problems. Sid Ali Zedrrouki is the General Manager of Algeria Venture, 

"We open innovation. What does this mean? It means that we give them the means to access markets to companies, which they often saw as closed off to them. Today we give them the means to access these companies with solutions, to knock on their door, to solve their problems, to get order forms, and to find markets".

Algeria Venture is where start-ups are officially registered and it is also here that the tech players can meet to generate partnerships.

Beyn's growth is consistent with the expansion of the Fintech sector in Algeria. The company offers solutions to major national and