During his participation in the Global Entrepreneurship Congress GEC Africa in Cape Town, Algerian Minister of Knowledge Economy, Startups, and Micro-enterprises, Yacine Oualid, and South African Minister of Small Business Development, Stella Ndabeni-Abrahams, signed a memorandum of understanding to enhance cooperation between the two countries in the field of startups and innovation.
This memorandum represents a significant step in the development of bilateral relations between Algeria and South Africa, offering new investment prospects for entrepreneurs from both nations. It specifically aims to facilitate the exchange of expertise and best practices and to encourage collaboration between Algerian and South African startups.
According to the Ministry of Knowledge Economy, Startups, and Micro-enterprises, this initiative paves the way for numerous opportunities for entrepreneurs from both countries, including joint project development, technology transfer, and experience sharing.
"An important step in the development of bilateral relations between Algeria and South Africa"
In parallel with the memorandum signing, the Algerian minister participated in the meeting of African ministers present at the global congress, where he emphasized the importance of regional cooperation in entrepreneurship. He particularly highlighted the Algiers Declaration for Startup Development, adopted during the 36th ordinary session of the African Union Assembly, and advocated for measures to facilitate talent mobility in Africa and support entrepreneurs' access to the continent's markets.
The Global Entrepreneurship Congress served as an essential discussion platform, bringing together over 1500 participants from 43 African countries and 15 African ministers. This meeting explored opportunities to strengthen cooperation among African countries in entrepreneurship, emphasizing the importance of international collaboration in fostering economic and technological development on the continent.
In recent years, Algeria has also made significant progress in developing its digital ecosystem. Government initiatives to promote innovation and entrepreneurship in the information and communication technology (ICT) sector have been implemented. Incubators, coworking spaces, and startup support programs have been launched in several cities across the country. Additionally, efforts have been made to improve internet access and encourage the adoption of digital technologies at all levels of society. Despite these advancements, challenges persist, particularly regarding broadband connectivity and digital skills development. However, Algeria continues to invest in the digital sector to stimulate innovation, economic growth, and job creation in the ICT field.
Meanwhile, South Africa is often regarded as a leader in the digital ecosystem in Africa. The country boasts advanced digital infrastructure, relatively widespread internet access, and a dynamic community of startups and tech entrepreneurs. Innovation hubs, such as Silicon Cape in Cape Town and the Sandton district in Johannesburg, have emerged as technological hubs where high-tech companies thrive. Additionally, the South African government has implemented policies and support programs aimed at promoting innovation and entrepreneurship in the ICT sector. However, despite these successes, challenges remain, particularly concerning universal internet access, socio-economic inequalities, and cybersecurity issues. Nevertheless, South Africa remains a major player in the African digital ecosystem and continues to attract attention from investors and entrepreneurs worldwide.