Issad Rebrab is an Algerian billionaire businessman and the founder of Cevital, the largest private company in Algeria.
Cevital operates one of the biggest sugar refineries in the world, with an annual output of over 1.5 million tons. The company also produces margarine and vegetable oil.
Cevital’s operations have extended beyond Algeria into countries like France, Spain, Morocco, Tunisia, and Brazil.
Born on May 27, 1944, in Taguemount-Azouz, Tizi Ouzou, Algeria, Issad ranks as Algeria’s richest person and one of the richest people in Africa.
This is his profile as told by WOA:
Net Worth
Issad Rebrab’s net worth is estimated to be $2.5 billion, according to Forbes. This makes him the 11th richest person in Africa.
His wealth primarily comes from his ownership of Cevital and its diverse portfolio of companies, which include:
- Cevital: Algeria’s largest private company, which initially focused on the food industry but later diversified into automotive, household appliances, transport, float glass production, and large-scale retail.
- Cevital Agro-Industrie: A subsidiary of Cevital, it encompasses oil refining, margarine production, mineral water packaging, and the production of refreshing drinks.
- Metal Sider: Founded in 1988, it is one of Algeria’s leading steel producers.
- Profilor: Established in 1975, it is involved in the steel industry.
- Cevital-Spa: Algeria’s premier food processing company.
Other Acquisitions:
- Groupe Brandt: A French home appliances maker acquired by Cevital.
- Alas Iberia: A Spanish aluminum firm acquired by Cevital.
- Aferpi: An Italian company acquired by Cevital.
- El Khabar: Algeria’s largest media group acquired by Rebrab in 2016.
- Oxxo
- Alas Iberia
- Lucchini Steel Mill
Collectively, these companies have created enough revenue streams to make Issad a billionaire.
But how educated is he?
Education
Issad’s education repertoire is as impressive as his entrepreneurial achievements.
He holds a Degree in Business Management and Accountancy from a professional teacher’s college in Algeria and another degree from the Algerian Institute of Management and Planning.
He also studied accounting on a scholarship at Cours Pigiers in Thionville, France.
But how did he make his billions?
Success Journey
Issad was Born in 1944 in Taguemount-Azouz, Algeria. His parents were active militants in the fight for Algeria’s independence from French colonization.
He pursued higher education on a scholarship at Cours Pigiers in Thionville, France, studying accounting. After returning to Algeria, Rebrab taught accounting and commercial law.
In 1968, he established his own accounting firm, which marked the beginning of his entrepreneurial career.
In 1971, a client advised him to invest in a metallurgical construction company, Sotecom. He took a 20% share and later co-founded Profilor in 1975.
Rebrab continued to expand his ventures, acquiring more companies and establishing Metal Sider in 1988.
In the early 1990s, Rebrab diversified by acquiring IBM activities in Algeria to move beyond metals.
In 1995, his factories were destroyed in a terrorist attack, costing him over one billion Algerian dinars. Despite this setback, he returned to Algeria and continued his entrepreneurial journey.
In 1998, Rebrab founded Cevital, which has grown into one of Algeria’s largest conglomerates.
Under Rebrab’s guidance, the company grew to become one of the world’s largest sugar refineries, with an annual capacity of two million tons.
In 2016, he acquired the El Khabar media group, further diversifying his investments.
He has received numerous accolades for his contributions, including being voted CEO of the Year at the Africa CEO Forum 2015 and being named Personality of the Year by Italy’s Tuscany region in 2016.
Family
A devout family man, Issad Rebrab, is married to Djedjiga Rebrab, and they have five children: Omar, Lynda, Malik, Yassine, and Salim. All are executives within the Cevital Group.
His eldest son Omar heads the Automotive, Real Estate, and Services division; Lynda directs Research & Development; Malik became CEO of Cevital in July 2022; Yassine is a managing shareholder; and Salim manages Food Processing and Distribution.
Scandal
Despite his success, Issad is no stranger to controversy. In April 2019, he was arrested and detained as part of a corruption probe.
He was accused of importing used machinery despite enjoying tax and customs breaks meant for purchasing new equipment. He was sentenced to six months in prison but was released in January 2020 after serving more than his sentence.
In May 2023, Rebrab was arrested again over “questionable financial transactions” involving Cevital Group and foreign entities.
This arrest was reportedly linked to his alleged support for Ali Ghediri, a retired army general who ran against President Abdelmadjid Tebboune in the 2019 presidential elections2.
