INATEL, a subsidiary of the National Telecommunications Company (ENTC) of Algeria, has partnered with Morefun Electronic Technology of China to produce and export two million electronic payment terminals to Nigeria.
The $300 million deal was signed on Sunday, September 7.
According to Sid Ali Zerrouki, Algerian minister of Post and Telecommunicationsthe 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% increase from the previous year. For all of 2024, the total was 79.5 trillion naira.
The deal was signed as part of the fourth Intra-African Trade Fair (IATF 2025), an event designed to promote trade and investment across the continent.
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.
For Nigeria, it provides an opportunity to expand access to digital payment solutions as POS adoption grows, driven by central bank policies and incentives. On a continental scale, the partnership aligns with AfCFTA's goals of developing intra-African trade with "made-in-Africa" products.
