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Algiers…In a move set to reshape Algeria’s financial and entrepreneurial landscape, the General Delegate of the Algerian Union of Insurance and Reinsurance Companies (UAR), Abdelhakim Berrah, announced on Tuesday, 30 July  the creation of an investment fund dedicated to startups. This initiative, unveiled during the opening of Tam-Wil 2025, highlights the insurance sector’s commitment to supporting innovation, digital transformation, and economic growth.

The planned investment fund will be spearheaded by public insurance companies and aims to back startups and enterprises operating in insurance, reinsurance, and related technologies. This decision reflects a strategic shift in the sector toward modernization and active participation in Algeria’s digital economy.

Supporting Innovation Through Finlab and New Financing Models

As part of this vision, Berrah highlighted the launch of initiatives such as the “Finlab” financial studies laboratory and a savings and financing observatory. These tools are designed to:

Track savings behaviors and trends across Algeria.

Identify the right financing mechanisms tailored to different business needs.

Encourage collaboration between insurance firms, banks, and the Algiers Stock Exchange to create a more integrated financial ecosystem.

Such measures are expected to pave the way for a more inclusive and innovative insurance market, aligning with the broader goals of Algeria’s digital economy strategy.

The Push for a Digital Bank in Algeria

During the event, Ikram Eddine Hichoure, CEO of Finlab, stressed the urgent need to accelerate the creation of a digital bank in Algeria. Despite regulatory reforms, the sector remains in its early stages, with implementation facing delays.

Hichoure emphasized several key actions to move forward:

Establishing a legal and regulatory framework to support digital banking.

Creating a sandbox platform to test new financial products and assess market readiness.

Upskilling financial professionals to adapt to digital innovation.

Running public awareness campaigns to increase trust and adoption of digital banking services.

According to him, the transition from policy to practice is critical if Algeria wants to keep pace with international trends in fintech and digital finance.

Why This Matters for Startups and the Algerian Economy

The establishment of an investment fund by public insurance companies signals more than just financial support—it represents a cultural shift in how traditional sectors engage with innovation. For startups, especially those in fintech, insurtech, and digital services, this could mean:

New funding opportunities tailored to their growth needs.

Access to partnerships with established institutions.

A stronger, more structured ecosystem for scaling innovative solutions.

For Algeria’s broader economy, this initiative positions the insurance industry as a key driver of digital transformation and a partner in fostering a more inclusive financial future.

The announcement at Tam-Wil 2025 marks an important milestone in Algeria’s journey toward a more digital, innovative, and startup-friendly economy. With the UAR’s backing, startups in the insurance and financial sectors will gain access to vital resources, expertise, and partnerships.

As Algeria prepares for the next wave of economic transformation, the success of this investment fund and the potential launch of a digital bank could define the country’s ability to compete in the global digital economy.