By: Hana Saada
ALGIERS- Saïda Neghza, the Managing Director of Soralcof Algeria, the President of the General Confederation of Algerian Enterprises (CGEA), and founding member of Businessmed, an organization that brings together nineteen employers’ confederations from countries in the Mediterranean basin, is very active locally and internationally, particularly in the Mediterranean basin, African continent and the Arab world. She maintains a unique local, regional and international presence with a view to building a better understanding between nations, hence, installing genuine long-term economic stability and prosperity.
Saïda Neghza, who chaired the Businessmed from 2017 to 2020, is currently taking the helm of the African employers through Business Africa, which brings together fifty – four countries. She is a member of the Board of Directors of the International Labor Office and the International Labor Organization (BIT/ILO) and the African representative within the Organization International Organization of Employers (IOE).
In addition, and after being elected in September 2021, as a member of the board of directors of the Arab Labor Organization (OAT) for a two-year term, the president of the General Confederation of Algerian Enterprises (Cgea), Saïda Neghza, propelled to the head of the Board of Directors of this organization. Her election was approved by the organization’s three teams at the 48th session of the Arab Labor Conference held in Cairo. This is the first time that Algeria chairs the Board of Directors of the Arab Labor Organization. An honor to be added to its glories thanks to the Algerian Lady who took the reins of this prestigious Council.
Locally and following his December 2019 election, President of the Republic, Mr. Abdelmadjid Tebboune launched a series of all-out reforms, which led to the adoption of a new constitution in December 2020 and the election of a new parliament in June 2021. Besides, Mr. Tebboune has declared his intention to focus on economic issues, making his tenure an economic era par excellence.
Since then, New Algeria has embarked on a very ambitious reform program of its legal framework to boost all-around investments with the aim of achieving economic recovery. This latter is being achieved at different levels thanks to the judicious and far-sighted policy adopted by the country’s high authorities, under the leadership of the President of the Republic, Mr. Abdelmadjid Tebboune, Commander-in-Chief of the Armed Forces, and Minister of National Defense.
To this end, the Algerian authorities have removed most of the restrictions curtailing foreign investment, namely; the state’s pre-emption right on the transfer of shares by or to foreign shareholders, the prohibition on investors to finance their projects in Algeria with facilities from foreign lenders, and the famous ‘49/51 rule’ pursuant to which the capital of Algerian companies must be at least 51% owned by Algerian resident persons or entities, thus, limiting foreign investors’ stake to 49% (the 49/51 rule). Previously, this latter had to be applicable to all industries. However, the new law provided that the 49/51 rule shall be applied only to purchase and resale activities and to sectors considered as strategic.
In addition to the alleviation of the 49/51 rule, the emphasis has been placed on the Start-ups. This support enshrines President Tebboune’s commitments to a new business model that attracts investors worldwide.
Algeria is deploying significant efforts to create an environment conducive to the transition from a rentier economy to an economy with diversified incomes without dependence on oil and price volatility on international markets. Start-ups, for their part, will fuel this transition. For this purpose, a ministerial department has been created and a bank will be dedicated to monitoring and supporting young project leaders.
Welcoming the diversification of the economy, lifting the dependence on hydrocarbon export, and the emergence of start-ups, Neghza exerts huge efforts to crown these measures with success with the aim of establishing sustainable development and a healthy business climate, being a gate to prosperity and sustainable growth. She believes that the new incentives and the updating of the legal framework for investments offer promising prospects in Algeria, resulting in a booming investment climate.
She is accompanying the state in its efforts as the employers’ organization CGEA she chairs constitutes a bridge between entrepreneurs and public authorities. CGEA brings together under one roof all sectors of activity and all companies; large, medium, small and very small enterprises (TPE). It also promotes young people and start-ups, particularly academics, by creating bridges between universities and the world of work. The organization has also signed several agreements with universities, the latest of which concern the agreements signed with the universities of Constantine and M’sila. It also encouraged the partnership between Bomare Company, a company specializing in the electronics industry, and the University of Blida.
She has encouraged the operators to invest in agriculture and in several ongoing projects thanks to the establishment of the Odas platform [Office for the development of industrial agriculture in Saharan lands].
Fierce war against bureaucracy
The “Algerian Fatma N’soumer”, fraternally nicknamed by the President of the Republic, Neghza has been designated as “the first businesswoman of modern times”. She waged a war against bureaucracy, pledging to fight against all the setbacks that would hamper the economic growth in Algeria.
Internationally, Neghza conducts intense economic diplomacy, in accordance with the Algerian State’s policy on foreign trade, cooperation and partnership, especially with the regional environment of which Algeria is a pivotal pole. Aware of Algeria’s pivotal political, economic and cultural role, Neghza has taken upon the responsibility of implementing President Tebboune’s guidance in this regard with all possible means with the aim to realize the aspirations of the state and serve the interests of the country.
The President of the General Confederation of Algerian Enterprises (CGEA) and President of the Business Africa organization since June 2019, Saïda Neghza, was received, last November, in audience by Mr. Macky Sall, President of the Senegalese Republic and President-in-Office of the African Union, in his residence in Algiers in his capacity as guest of honor at the Arab Summit. During the meeting, Neghza presented the activity of the confederation to the President, especially that his country is, as she said, ‘experiencing a strong economic dynamic and is a center of interest for Algerian operators’.
Following this audience, she fled to Senegal where she participated in the Algerian-Senegalese business forum in the presence of the Senegalese Minister of Economy, Planning and Cooperation Olimata Sarr and the Minister of Trade Abdou Karim Fanoufa. She declared that “she would soon begin the organization of permanent exhibitions and fairs in Qatar, Senegal, Cameroon and Mauritania”.
After a visit she made, last December, to Senegal with a delegation of businessmen, marked by meetings she held with senior officials from this country in the West African region, and resulted in the conclusion of agreements and protocols of cooperation with one of the groups, of economic enterprises, Saida Neghza embarked on a new journey to Cameroon.
Since the first day of her one-week tour, from January 22 to 28, in this important country given its strategic geographic and economic position in Central Africa, the President of the CGEA, accompanied by her delegation, made up of the members of the Confederation and representatives of Algerian groups, public enterprises and chambers of industry and commerce, held meetings at the highest level with senior Cameroonian government officials, including the Prime Minister and the Ministers of Foreign Affairs, economy, energy and water.
Saida Neghza also chaired the Algerian-Cameroonian Business Forum with the participation of more than 200 Cameroonian businessmen and business representatives, resulting in the conclusion of 7 agreements in the field of food and processing industries. The Cameroonian government has decided to allocate an area of 4000 hectares to Algerian companies. She also held meetings with high-ranking officials from the Chambers of Commerce and Industry and the Cameroonian Patronage.
Following her tour in Cameroon, Saida Neghza, with her sense and rich experience in economic diplomacy, was able to seize opportunities for investment and economic cooperation with Cameroonian businessmen, and discover the Cameroonian market, allowing Algerian economic operators to meet their needs as well as the opportunities it offers. In addition, her visit was crowned with the signing of an agreement establishing the Council of Algerian-Cameroonian businessmen and an economic forum, as well as the strengthening of cooperation between the CGEA and the Inter-Patronal Group of Cameroon (GICAM).
Still in Africa, Mrs. Saida Neghza was received by the President of the African Parliament and President of the Parliament of Zimbabwe. The meeting focused on economic issues relevant to Africa and the modalities for better integration between African economies.
More recently, Mrs. Neghza was received, in the Qatari capital Doha, by Sheikh Faisal bin Qassim bin Faisal bin Thani bin Qassim bin Mohammed Al Thani, one of the most prominent Qatari businessmen, and the Chairman of the Board of Directors of “Faisal Holding”. Both parties discussed the privileged bilateral cooperation and the means for their enhancement. Besides, she was honored by ‘Waed’ company for her distinctive efforts for the promotion of Algeria-Qatari relations.
