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  1. #1
    7ooda is offline Registered User
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    Question Who finances private business in Algeria?

    Good morning everyone in Algeria,

    My name is Mahmoud, I am Egyptian, running my trading business in Cairo for the last 10 years, focusing on the medical products.
    I am planning to establish an office in Algeria during 2006, providing the latest high tech from the world,specifically Europe, exactly as I am doing in Egypt.
    I knew that in order to issue an import/export licence I have to deposit 20 Million DA first.
    If you know a financing authority whom can finace my start up, please let me know. This is a huge amount of money to start with, and I need financial backup.

    And, if you know where can I can contact an investor, whom is ready to finance my business plan for 1 year, based on pure Islamic rule (Modaraba), no interest at all, I am very willing to offer 2/3 (two thirds) of the NET profit. And I will cover my expenses, so the capital will be all involved in the business.

    My business plan estimates the capital needed in $500'000 up to $1'000'000. Gross profit around 60%, and NET profit around 30%, within the first year.

    My private email address is my_genome@hotmail.com.

    Regards,
    Mahmoud.

  2. #2
    FORTUNATO is offline Registered User
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    Originally posted by 7ooda
    Good morning everyone in Algeria,

    My name is Mahmoud, I am Egyptian, running my trading business in Cairo for the last 10 years, focusing on the medical products.
    I am planning to establish an office in Algeria during 2006, providing the latest high tech from the world,specifically Europe, exactly as I am doing in Egypt.
    I knew that in order to issue an import/export licence I have to deposit 20 Million DA first.
    If you know a financing authority whom can finace my start up, please let me know. This is a huge amount of money to start with, and I need financial backup.

    And, if you know where can I can contact an investor, whom is ready to finance my business plan for 1 year, based on pure Islamic rule (Modaraba), no interest at all, I am very willing to offer 2/3 (two thirds) of the NET profit. And I will cover my expenses, so the capital will be all involved in the business.

    My business plan estimates the capital needed in $500'000 up to $1'000'000. Gross profit around 60%, and NET profit around 30%, within the first year.

    My private email address is my_genome@hotmail.com.

    Regards,
    Mahmoud.
    Saha Mahmoud
    There is an Algerian saying for borowing; "YOU HAVE TO PROUVE TO THE BANK THAT YOU HAVE ENOUGHT MONEY; THAN THEY CAN FINANCE YOU..."

    Yes you have to prouve them that you dont need there money...

    Who can brow you money?
    a) any bank after they study your feasibility analyses
    b) any assets or coorporate ownerships equal 10x your needed money (mean if you look for 500t$ You need to prouve that your assets are equal 5000t $
    c) Joint ventures with local compagny who oen assets in Algeria and recognized by a 1 first class bank
    d) Your Egyptian Bank (via export) can help you as well

    And you can get more information by visiting Algerian chamber of commerce in CAIRO

    Ciao
    F-
    -
    A government that robs Peter to pay Paul can always depend on the support of Paul.
    By: George Bernard Shaw

  3. #3
    7ooda is offline Registered User
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    Saha F

    Thank u very much for ur concern and the prompt reply.
    Well, when it comes to banks and borrowing money from banks, i hv to go the other direction immediately.

    Plus, if i hv the money, why should i go to the bank and pay interests.

    But, there might be a good solution through a bank, if it deals in an islamic permitted way. Are there any islamic banks in Algeria?

    Thx and take care...

    7ooda

  4. #4
    Abdu23 is offline Registered User
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    Hey Mahmoud, welcome
    Well, there is an islamic bank, but like most (I just don't wanna say all) they just change the contracts to islamic names, and don't use the full power of a real islamic bank. I am afraid your chances for financing in algeria are slim, there is an interest free loan but I belive it's only available for algerians. Your best shot is to sell to existing companies without owning a license (especially medical products, which is a "hot" business in algeria). I wish you good luck

  5. #5
    ElHenni is offline Registered User
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    azzayik ya 3m, 3mal ay? 3ndk shughl fil Jaza'ir, ahlan wa sahlan ya akh al masri. anta aish feyn???

  6. #6
    phylay is offline Guest
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    Originally posted by ElHenni
    azzayik ya 3m, 3mal ay? 3ndk shughl fil Jaza'ir, ahlan wa sahlan ya akh al masri. anta aish feyn???
    Ewww! u speaking targui!!

  7. #7
    7ooda is offline Registered User
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    Dear Abdu,

    Thank you very much for your reply and support.
    Now, I hv 2 alternatives, either to partner with an Algerian citizen or I sell direct to an existing company with a valid import licence. This is a positive step forward.

    Do all companies working now hv this 20 Million DA to get the licence or it is for the new companies only? In this case, I may partner with an existing company whom is looking for expansion and work together. Dont you think that this might be an other solution?

    Appreciating ur concern and help. I am really doing my best to hv a new start in Algeria. I hv been studying and reading a lot and I am sure that I will be very compatible with the Algerian culture, which is not that far from the Egyptian one.

    Best regards,
    7ooda.

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