Algerian businessmen show interest in startups funding 2
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Kheireddine Batache
Wednesday 17 January 2018 Last update on Wednesday, January 17, 2018 At 10:27 AM

Major Algerian businessmen Oulmi brothers are trying to launch out capital risk activities in Algeria. They are well known for their investments in the automotive sector.

Information reported by corporate intelligence media “Africa Intelligence” noted that Mourad and Khidher Oulmi would like to become business angels for local startups, as they made their first investment in information technology. The brothers entered newly the capital of a small company named Smartest Algeria. The young startup was set up by three engineers working for world’s leading provider of oil services Schlumberger.

Moreover, the businessmen are already starting negotiations with two other startups looking for business angels to support their activities and whose names remained confidential. Oulmi brothers are amongst key players in Algerian automotives. They are the official representatives of German cars manufacturers Volkswagen and Audi through their automotive dealership Sovac.

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