Algeria : After companies, Abdelmadjid Tebboune on the hunt for Moroccan executives ?

The campaign led in Algeria by Abdelmadjid Tebboune against public and private entities working with Moroccan companies has made its first victim. Indeed, Abdelhak El Mansour, Managing Director of Amana Assurance (ex-SAPS), a company specialized in personal insurance, was asked by the Board of Directors to step down, reports Le Soir d'Algérie. The same information was confirmed to Yabiladi by a source in Algeria.

Moroccan national Abdelhak El Mansour was appointed in June 2019 to head this joint venture created by the Algerian Insurance Company (SAA) and French insurer Macif. Created in 2011, the shareholders of the company are also the Algerian Local Development Bank (BDL) and the Agriculture and Rural Development Bank (BADR), both owned by the Algerian State.

Was El Mansour sacked for being Moroccan ?

According to our information, Abdelhak El Mansour arrived in Algeria around the same time, following his appointment, which was not approved (or did it really need approval?) by Algeria. As a result, in the wake of the presidential decision, the Algerian authorities would have forced the French company to dismiss the head of its subsidiary. The decision was endorsed by the board of directors of Amana Assurances, held Monday, May 10 in Algiers. 

All these elements point at the thesis of a dismissal because of of Mr El Mansour’s Moroccan citizenship. He was replaced immediately by the Deputy Managing director, Abdi Mohand-Outabet.

The Moroccan, who lived in France before his appointment as leader of Amana Assurances, is married to an Algerian national. But he will undoubtedly return to France as soon as the epidemiological situation in both countries allow that.

Earlier this week, Algerian President Abdelmadjid Tebboune ordered the «immediate termination» of contracts concluded between Algerian public or private entities with Moroccan companies. An injunction from the Head of State which particularly concerns the Algerian Insurance and Reinsurance Company (CAAR) and the SAA. Telecommunication and ISP Djezzy, in which the Algerian state owns a 51%-stake, was also ordered to end these contracts with «companies close to lobbyist enemies of Algeria».

In a threatening tone, Tebboune also warned that any non-compliance with his orders will be dealt with «in accordance with the legislation in force».