The Compagnie Algérienne d'Assurance et de Garantie des Exportations (CAGEX) has proceeded with a share capital increase at the beginning of 2024. It was raised from 3 billion DZD (22.2 million USD) to 10 billion DZD (73.9 million USD). 40% of the contribution comes from the Public Treasury.
Through this operation, the credit insurer aims to address economic risks in Algeria and to further support Algerian exporters.
The capital increase was announced by Zohir Laïche, CEO of CAGEX, during a regional seminar for exporters from western Algeria, held on 19 February 2024 in Oran.
During the event, speakers also discussed the customs export facilitations approved by the recent Finance Laws to promote non-hydrocarbon exports.
The State has recently increased aid for non-hydrocarbon exporters, by opening new doors in the areas of activity of the Special Fund for Export Promotion.
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