HAMID OULD AHMED ALGERIA will allow its private sector to set up banks as well as air and sea transport companies for goods and passengers to reduce spending, President Abdelmadjid Tebboune has announced. The move is part of wider reforms by the OPEC member to cope with financial problems caused by a sharp fall in energy export revenues, the main source of state funding for the North African country. Elected in December 2019, Tebboune wants to encourage private investors and improve the investment climate in an effort to develop the non-energy sector and reduce reliance on oil and gas. "I…