Algeria’s INATEL, a subsidiary of the National Telecommunications Company (ENTC), has sealed a $300 million agreement with China’s Morefun Electronic Technology to produce and export two million electronic payment terminals to Nigeria. The deal was signed on Sunday, September 7, during the fourth Intra-African Trade Fair (IATF 2025).
Algeria’s Minister of Post and Telecommunications, Sid Ali Zerrouki, hailed the agreement as a milestone for the country’s industrial capabilities, emphasizing that the partnership could expand to five million units next year, doubling the export value. The project integrates INATEL’s manufacturing expertise with Morefun’s technological know-how to address the rapidly growing demand for digital financial solutions in Nigeria.
Nigeria’s POS market is expanding at an unprecedented pace, with 5.9 million of 8.36 million registered terminals active at the beginning of 2025. Transactions reached 10.51 trillion naira ($7 billion) in the first quarter of 2025 alone, marking a 300% year-on-year increase, compared to a total of 79.5 trillion naira recorded throughout 2024.
The contract was signed under the umbrella of IATF 2025, co-hosted by Algeria, Afreximbank, the African Union, and the AfCFTA. The event is expected to generate over $48 billion in deals and investments, advancing Africa’s integration and trade goals.
For Algeria, this agreement marks an important step in diversifying exports beyond hydrocarbons and showcasing its industrial and technological capacity on the continent. For Nigeria, it promises broader access to digital payment infrastructure, supporting the Central Bank’s financial inclusion agenda. At a regional level, the deal embodies AfCFTA’s push to scale intra-African trade with locally produced solutions.
