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In every Tech Eco-system there are some important players who sort of provide the breathing oxygen in terms of financial means to the new Startups , of course there are plenty of formulas that can be applied in these investment opportunities , wether through purchasing a certain number of shares or through getting some equity from these startups or getting into direct partnerships with them etc , those investments are made either by individuals or corporations or other institutions such as banks , Venture capital companies , etc and these investors in Tech are called " Angel investors " .
In Algeria the Tech Eco-system is still at its infancy and that is a bad thing for the economy in general as it is still relying on non renewable sources of energy to generate revenue .
But on the other hand it could be a great opportunity for the early stage investors who are willing to take their visions to extreme lengths and decide to " gamble " on this young Tech Eco- system , but if you ask me that gamble can bring stupendous rewards if they target the right Startups because when we look at other business models elsewhere it seems that in Algeria at least we don't have to reinvent the wheel as we already have an idea about how consumers here would react to and approach these new Startups , they seem to have a pretty much identical consumer behavior compared to Western countries , their power of purchase is lower of course but as economic growth and business opportunities take place i am confident that the market here will be satisfactory and consumer indexes will go much higher than now .
For example take the African App Jumia who decided to run operations in Algeria , they had a " Black Friday " Sale event here a couple years ago and while the Ecommerce model here is rudimentary and based on mostly C.O.D payments ! add to that the fact that the Black Friday concept doesn't even exist in our culture , The site had recorded about 150,000 orders during that Sales day alone , and that in my view is a good indication on what's to come if things get moving along faster and more efficiently !
The second thing why we don't have to reinvent the wheel is our Internet usage here seem to have a similar attraction toward the same business models in the US or France or Germany etc and the data on" Alexa " proves it when it comes to the popularity of Facebook , Instagram , YouTube , or even Tik Tok over here as well , which means that if we make the right adjustments in the other areas such as Ecommerce , financial system , stock market etc we might as well expect the same enthusiasm to come from regular users and professionals as a whole , as i would expect that the digital market place would be much bigger here than other much smaller countries in the MENA area or Africa or even certain economies in europe as well .
So far we see that some Business personalities are already standing up as " Angel Investors " as well some banks and corporations like Cevital Group and the Telecom company Oredoo , one Business personality in particular has attracted attention here : Mr Hakim Soufi who is CEO of Macir Vie " the first private insurance company in Algeria " who believes firmly in the contributions that the new technologies can bring to our economy and he cited that he is determined to intervene as a major player in this field.
He recently entered in the Capital of 4 Algerian Startups : 1- "Nkheyar "which is a dedicated mobile space used to compare mobile forfaits and soon the same platform will be applied in insurances as well . 2 -" Batolis " which is an ecommerce company . 3- " Nbatou " which is represented by Touring Innovations Co which offer solutions of accommodations in other homeowners locations etc . 4- " Hafalatt " which is a platform for banquets that does bookings for weddings ,events and parties etc .
All the Startups had to do to earn their 1 rounds of funding was very much the same thing that is practiced elsewhere like pitching their ideas , making their Business plans and presentations etc .
But mostly like any other wise Angel investor in the world , Mr Hakim Soufi makes a special attention to the human aspect of the concerned Startups that present themselves to him , as a good set of founders and cofounders is really not always easy to find .
Mr Soufi applies his Tech savyness and passion to his enterprise also which he is constantly working on making it as best a digital model as possible and that shows how he managed to allocate quite a reasonable amount from his revenue toward digital payments which he keeps on investing on in terms of infrastructure and marketing campaigns etc .
Lastly he is constantly reminding the other Algerian Businessman and Women to orient a part of their investments toward these young Startup Entrepreneurs .
In Algeria the Tech Eco-system is still at its infancy and that is a bad thing for the economy in general as it is still relying on non renewable sources of energy to generate revenue .
But on the other hand it could be a great opportunity for the early stage investors who are willing to take their visions to extreme lengths and decide to " gamble " on this young Tech Eco- system , but if you ask me that gamble can bring stupendous rewards if they target the right Startups because when we look at other business models elsewhere it seems that in Algeria at least we don't have to reinvent the wheel as we already have an idea about how consumers here would react to and approach these new Startups , they seem to have a pretty much identical consumer behavior compared to Western countries , their power of purchase is lower of course but as economic growth and business opportunities take place i am confident that the market here will be satisfactory and consumer indexes will go much higher than now .
For example take the African App Jumia who decided to run operations in Algeria , they had a " Black Friday " Sale event here a couple years ago and while the Ecommerce model here is rudimentary and based on mostly C.O.D payments ! add to that the fact that the Black Friday concept doesn't even exist in our culture , The site had recorded about 150,000 orders during that Sales day alone , and that in my view is a good indication on what's to come if things get moving along faster and more efficiently !
The second thing why we don't have to reinvent the wheel is our Internet usage here seem to have a similar attraction toward the same business models in the US or France or Germany etc and the data on" Alexa " proves it when it comes to the popularity of Facebook , Instagram , YouTube , or even Tik Tok over here as well , which means that if we make the right adjustments in the other areas such as Ecommerce , financial system , stock market etc we might as well expect the same enthusiasm to come from regular users and professionals as a whole , as i would expect that the digital market place would be much bigger here than other much smaller countries in the MENA area or Africa or even certain economies in europe as well .
So far we see that some Business personalities are already standing up as " Angel Investors " as well some banks and corporations like Cevital Group and the Telecom company Oredoo , one Business personality in particular has attracted attention here : Mr Hakim Soufi who is CEO of Macir Vie " the first private insurance company in Algeria " who believes firmly in the contributions that the new technologies can bring to our economy and he cited that he is determined to intervene as a major player in this field.
He recently entered in the Capital of 4 Algerian Startups : 1- "Nkheyar "which is a dedicated mobile space used to compare mobile forfaits and soon the same platform will be applied in insurances as well . 2 -" Batolis " which is an ecommerce company . 3- " Nbatou " which is represented by Touring Innovations Co which offer solutions of accommodations in other homeowners locations etc . 4- " Hafalatt " which is a platform for banquets that does bookings for weddings ,events and parties etc .
All the Startups had to do to earn their 1 rounds of funding was very much the same thing that is practiced elsewhere like pitching their ideas , making their Business plans and presentations etc .
But mostly like any other wise Angel investor in the world , Mr Hakim Soufi makes a special attention to the human aspect of the concerned Startups that present themselves to him , as a good set of founders and cofounders is really not always easy to find .
Mr Soufi applies his Tech savyness and passion to his enterprise also which he is constantly working on making it as best a digital model as possible and that shows how he managed to allocate quite a reasonable amount from his revenue toward digital payments which he keeps on investing on in terms of infrastructure and marketing campaigns etc .
Lastly he is constantly reminding the other Algerian Businessman and Women to orient a part of their investments toward these young Startup Entrepreneurs .
The Rise of Ecommerce in Algeria : Navigating the Challenges
