Chinese and Algerian technological companies have sealed an agreement to supply two million electronic payment terminals to Nigeria. INATEL, a subsidiary of the National Telecommunications Company (ENTC) of Algeria, and Morefun Electronic Technology of China signed the $300 million agreement Sunday, September 7, as part of the fourth Intra-African Trade Fair (IATF) 2025, an event designed to promote trade and investment across the continent.
The Algerian Minister of Post and Telecommunications, Sid Ali Zerrouki, said the partnership could double in value to five million units next year, leading to even higher export volumes. “We are proud to have competent Algerian resources capable of meeting all challenges and offering competitive products,” he said.
The project combines INATEL’s industrial capabilities with Morefun’s technological expertise. Its goal is to modernize financial services in Nigeria, where 5.9 million of 8.36 million registered point-of-sale (POS) terminals were active at the beginning of 2025. Transactions via these terminals reached 10.51 trillion naira ($7 billion) in the first quarter of 2025, a more than 300 percent increase from the previous year.
For all of 2024, the total was 79.5 trillion naira. Hosted by Algeria, Afreximbank, the African Union, and the African Continental Free Trade Area (AfCFTA), the fair is projected to generate more than $48 billion in contracts and investments. It serves as a strategic platform for African technology companies to showcase their capabilities and for the continent to advance its economic integration goals.
For Algeria, the deal represents a move to diversify exports beyond hydrocarbons and establish its industrial and technological presence in African markets.
