This latest cohort of startups joins a growing number of Algerian businesses that have benefited from the government’s initiative to connect local entrepreneurs with global tech giants and renowned universities.
The timing of Gambaryan’s release has stirred fresh debate in Nigeria, given its close alignment with the group’s formation, though neither side has officially linked the two.
With remittances playing a vital role in the Senegalese economy, contributing approximately 9.8% to the nation’s GDP in 2022, the neobank presents an opportunity for the government to capture a larger share of transaction fees currently paid to foreign intermediaries.
