Rabat, Morocco (TMT)- Algerian banks, including BEA, are aiming to expand into West African countries, starting with Senegal and Mauritania, in a move seen as an attempt to challenge Morocco’s progress.
However, experts warn that this banking venture would require significant investments and deep reforms in Algerian banks and would not benefit the Algerian economy.
Algerian banks will also have to compete with Moroccan banks that currently have a 22% market share in West Africa’s market of 120 million people.
The Moroccan Times.
