Table of Contents
Key Points
- Algeria's vast natural resources, including 12.2 billion barrels of crude oil and 159 trillion cubic feet of natural gas, fuel its economy and global trade.
- Business moguls across sectors like steel, agriculture, and technology are leading Algeria's economic diversification, pushing the country beyond oil dependence.
- Key figures like Issad Rebrab and Ali Haddad have driven Algeria's industrial growth, despite legal challenges, reshaping the nation’s private sector.
Algeria, a key player in North Africa, sits at a crossroads between the Mediterranean and Sub-Saharan Africa, giving it both geopolitical and economic significance. With an economy built on its vast natural resources—especially in energy, agriculture, and industry—the country is reshaping its role on the global stage.
As Africa's third-largest oil producer, Algeria is rich in energy reserves, with 12.2 billion barrels of crude oil and 159 trillion cubic feet of proven natural gas. These resources play a crucial role in the country’s economy, which reached a GDP of $246.8 billion in 2023, fueling both domestic prosperity and international trade.
But Algeria’s economic story goes beyond oil and gas. The country’s entrepreneurial spirit is breathing new life into a wide range of sectors, from agriculture to technology. While agriculture remains a key pillar, it is shifting towards more sustainable and innovative practices. What truly stands out, however, are the business moguls who are leading the charge. These visionaries are transforming industries like steel, cement, and petrochemicals, while also embracing technological innovations to open new doors for growth.
Algeria's business leaders aren’t just tapping into the country’s wealth—they’re changing its future. By creating jobs and pushing for economic diversification, they are driving a shift that extends far beyond energy exports.
Despite the challenges posed by an economy traditionally reliant on energy, these moguls are at the forefront of modernization, ensuring that Algeria continues to evolve as a dynamic force in Africa’s economic landscape. Below is a list of 10 Algerian business moguls whose success is shaping this new era of growth and innovation:
- Issad Rebrab
Issad Rebrab, founder of Cevital, the largest privately held company in Algeria, ranks as the country’s wealthiest individual, with a net worth estimated at $2.5 billion. Known for his significant contributions to Algeria’s industrial growth, Rebrab has led Cevital in sectors like food processing, industrial engineering, and logistics, making it a cornerstone of the Algerian economy. Beyond business, his philanthropic efforts, particularly in job creation and regional economic development, underscore his commitment to long-term social change. Although his leadership faced legal challenges, including imprisonment related to corruption allegations, his legacy remains impactful. In 2022, he handed the CEO role to his son Malik, ensuring Cevital’s continued growth under a new generation.
- Mahieddine Tahkout
Mahieddine Tahkout is a prominent Algerian businessman with a diverse portfolio spanning automotive manufacturing, media, and transportation. His partnership with Hyundai in establishing an assembly plant in Tiaret marked a significant milestone in Algeria’s industrial landscape. However, Tahkout's career has faced challenges, including his 2019 legal troubles and a prison sentence for corruption charges. Despite this, he remains a key figure in the country’s private sector, particularly in Algeria’s automotive industry. His resilience illustrates the complex interplay between success and legal battles in the country’s business environment.
- Djilali Mehri
Regarded as one of Algeria’s wealthiest individuals, Djilali Mehri is a pioneering force in the nation’s private sector. As the chairman and CEO of Pepsi Algeria, he has been instrumental in shaping the country's manufacturing and distribution landscape. With investments across various industries, including hospitality and real estate, Mehri’s vision continues to influence the Algerian economy. His ongoing development of 36 hotels with Accor highlights his enduring presence, despite recent shifts of focus to France. His fortune, estimated at over $1 billion, solidifies his position as one of North Africa’s most influential businessmen.
- Ali Haddad
Ali Haddad, founder of Group ETRHB, established Algeria’s first private construction company, revolutionizing the country’s infrastructure and energy sectors. His involvement in oil, gas, renewable energy, healthcare, and education underscored his wide-reaching influence. However, his career took a major hit in 2020 when he was sentenced to 18 years for corruption, though his sentence was later reduced. Despite the setbacks, Haddad remains a significant figure in Algeria's business landscape, representing both the potential and the pitfalls of entrepreneurial success in the region.
- Abdelmadjid Kerrar
Abdelmadjid Kerrar, founder of Biopharm, is a leading figure in Algeria’s pharmaceutical sector. His dedication to reducing Algeria’s reliance on imported medicines has driven Biopharm’s expansion into medical equipment manufacturing, distribution, and healthcare services. Kerrar’s commitment to sustainability and ethical business practices has earned him recognition as a forward-thinking entrepreneur. His diversified investments in renewable energy, agriculture, and real estate position him as one of Algeria’s most influential business magnates, with Biopharm generating over $500 million in annual revenue.
- Ahmed Mahzouz
Ahmed Mahzouz, head of the Mazouz Group, is a rising star in Algeria’s private sector. His acquisition of the N'gaous Conserves SPA brand and the Bab Ezzouar shopping center has helped him establish a strong presence in Algeria’s distribution and leisure markets. Although he remains less known than some of his peers, Mahzouz’s strategic investments and rapid growth make him a key figure in the country’s evolving business environment.
- Abderrahmane Benhamdi
Abderrahmane Benhamdi and his family, owners of Condor Group, are a dominant force in Algeria’s consumer electronics market. Condor is Algeria’s second-largest smartphone seller, behind only Samsung, and holds a commanding position in the television, refrigerator, and washing machine sectors. With a growing international presence, the Benhamdi family is mitigating the risks tied to Algeria’s domestic market while expanding its footprint globally, making them one of the most formidable entrepreneurial families in the region.
- Abdelmoumen Ould Kaddour
Abdelmoumen Ould Kaddour, the former CEO of Sonatrach, Algeria’s state oil giant, is known for modernizing the company and expanding its international reach through partnerships with Total and Eni. While his leadership in the energy sector was commendable, Ould Kaddour’s legacy has been marred by legal controversies, including a prison sentence related to the company’s controversial acquisition of a refinery in Italy. His story reflects the complexities of navigating Algeria’s political and business landscape, particularly for high-level figures in the state-owned oil and gas sectors.
Abdelmalek Sahraoui
Abdelmalek Sahraoui, one of the wealthiest individuals in all of Algeria, is the owner of the brand of lubricants and petroleum products Petroser. A senior official at FCE Ali Haddad, the boss of Petroser, earns a lot of money thanks to disconcerting facilities offered to him by public banks and local authorities of several Wilayas, including Mascara and El-Bayadh, which welcome his large agricultural lands.
- Mourad Oulmi
Mourad Oulmi, often dubbed the ‘‘prince of German cars’’ in Algeria, has been Volkswagen’s official representative in the country since 1999. Through his company, Sovac, he has become one of Algeria's most prominent business figures. For nearly a decade, Sovac held a significant share of the Algerian automotive market, trailing only Renault and Peugeot.
