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New chief installed at Algeria's National Investment Fund, the state's main equity arm

12 November 2026 · Algeria Now

New chief installed at Algeria's National Investment Fund, the state's main equity arm — Photo : Mikoyan-Aljir / Wikimedia Commons, CC BY-SA 3.0

ALGIERS — Bilal Achacha was installed on Tuesday as director general of the National Investment Fund (FNI), the Algerian state's main investment vehicle, according to an FNI communiqué. He succeeds Salah Labani, who had led the institution since March 2025.

Kamel Meraghni, secretary general of the Ministry of Finance, presided over the ceremony at the Fund's headquarters. Hadj Mohamed Sebaa, director general of the Treasury and Accounting, and members of the board of directors attended. The communiqué did not give a reason for the change.

Mr Achacha, who studied at the Institut de financement du développement du Maghreb in Tunis, previously headed the national agency for supporting entrepreneurship, a post he took up in April 2024. His earlier career included senior posts at the Finance Ministry and in public institutions, among them Algérie Poste, the national postal operator.

The FNI has legal personality and financial autonomy. Its capital was raised to 275 billion dinars in 2025. It finances the economy through loans and equity stakes, often alongside domestic or foreign partners, which makes it a key channel for the state's industrial policy.

Its portfolio is wide. It has been the main shareholder of the mobile operator Djezzy since 2022, and it is a partner of Renault and Stellantis in their Algerian plants and of Algerian Qatar Steel in the Bellara steel complex. Among its large agricultural projects are the Baladna dairy and livestock farm in Adrar, valued at 3.5 billion dollars with the Qatari group of that name, and a cereal project in Timimoun with Italy's BF worth 420 million euros.

Mr Achacha's mandate is to continue the Fund's involvement in large productive investments, as the government seeks to expand non-oil exports and reduce reliance on hydrocarbons.

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