• Algeria exempts certified startups from IPO and listing fees on the Algiers Stock Exchange until 2028, targeting fundraising up to 500 million dinars ($3.85 million).
• The measure applies to the “Croissance” segment, designed for high-potential companies, and aims to reduce barriers to capital market access for startups.
• Only one Algerian startup, Moustachir, has listed to date, achieving regional expansion and projected revenue growth to 187 million dinars by 2028.

Algeria’s capital market authorities aim to stimulate startup financing by waiving IPO fees for certified startups until 2028. The measure, announced February 1 by the Commission d’Organisation et de Surveillance des Opérations de Bourse (COSOB) in coordination with the Société de Gestion de la Bourse des Valeurs (SGBV) and Algérie Clearing, allows young companies to raise funds without paying listing or administrative costs.

The exemption covers the “Croissance” segment of the Algiers Stock Exchange, a market tier for high-potential companies. Eligible startups avoid fees for document review, listing, administration, securities custody, and management. The initiative applies to fundraising operations capped at 500 million dinars ($3.85 million) and is valid for transactions conducted between 2026 and 2028.

Algeria hosts over 7,800 startups on the official portal startup.dz, with roughly 2,300 certified as official “startups.” Authorities view the fee waiver as a key lever to enhance access to capital markets, a historically limited source of funding for young companies.

The policy complements broader public strategies to support entrepreneurship and innovation as drivers of economic diversification. The Algiers Stock Exchange remains small, listing only eight companies as of mid-2025, including the Banque de Développement Local (BDL) and the startup Moustachir.

Moustachir, the only startup to have listed so far, joined the exchange in 2024. The company projected revenue above 55 million dinars in 2025, with a target exceeding 187 million dinars by 2028. Within two years, it has expanded into Middle Eastern markets, including Oman and the United Arab Emirates.

Samira Njoya