Backed by Algeria’s largest state-owned lenders, the bank’s regional push reflects growing competition among African nations to build cross-border financial networks and capture rising intra-African trade flows
Algeria-backed lender Algerian Bank in Senegal (ABS) plans to expand into Niger and Côte d’Ivoire as Algiers seeks to deepen its financial footprint across West Africa and support growing trade and investment ties on the continent.
The bank, which began operations in Senegal in late 2023, has applied for a licence to open a branch in Niamey, Niger’s capital, and expects the office to launch by the end of 2026 or early 2027, Director General Abdelhafid Haned said on Sunday during an investment and trade forum in Algiers.
The move is part of Algeria’s strategy to strengthen its banking presence in Africa and support Algerian companies operating across the continent, Haned said.
He said the planned Niger expansion would build on a series of agreements signed recently between Algeria and Niger involving state-backed companies including Sonelgaz, Sonatrach and Algérie Télécom.
Haned added that future expansion into Côte d’Ivoire would help transform the bank into a “regional banking hub” in West Africa, aimed at accelerating regional integration and strengthening economic and financial links between Algeria and African states.
The lender also provides advisory services to businesses seeking to invest or export to Senegal, including guidance on legal and regulatory frameworks and identifying profitable sectors, Haned said.
The bank was launched with $100 million in capital through a consortium of Algerian state-owned lenders including National Bank of Algeria, Crédit Populaire d’Algérie, Foreign Bank of Algeria and Bank of Agriculture and Rural Development.
Separately, Aboubekrine Diallo, executive director of Algerian Union Bank in Mauritania, said trade between Algeria and Mauritania rose to about $500 million in 2025 following the opening of three bank branches in the country.
Participants at the investment forum, including African ministers and business executives, called for greater investment in human capital and the creation of a unified digital platform to improve data sharing, communication and payment systems across the continent.
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Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
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