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Algeria is one of the most prosperous countries on the African continent behind Nigeria, Egypt and South Africa. It is home to ultra-wealthy individuals who are worth more than $30 million and billionaires with personal wealth in excess of $1 billion.
Despite having a 44-million population, Algeria ranks higher than Tunisia, Morocco and Nigeria in terms of individual wealth, as the country ranks 11th with a GDP per capita of $3,330.
Algeria is home to more than 4,000 wealthy businessmen. There are expected to be over 6,000 millionaires in the country by the end of the decade if current wealth growth trends are sustained.
Aside from Issad Rebrab, Algeria’s richest man, little is reported on the many other super-rich Algerians, some of whom are centi-millionaires and billionaires in their own right.
According to recent research conducted by Billionaires.Africa, here is a list of some of these wealthy individuals.
As wealth estimates rely on quantitative elements such as personal fortune and company size, Billionaires.Africa refrained from publishing their net worth as the companies owned by these individuals are privately held.
#1 Ali Haddad
Ali Haddad is an Algerian billionaire who shies away from media attention. He is the founder of ETRHB Haddad Group, an Algeria-based construction company that generates multimillion-dollar annual revenues.
Haddad founded the company when he was 32 after completing his civil engineering studies in 1988. Since then, ETRHB Haddad has grown into a leading player in the Algerian construction industry.
Aside from his investments in the construction industry, the billionaire is also the controlling shareholder of USM Alger, an Algerian club that plays in the Algerian Premier League. In addition, he owns two television channels: Dzair TV and Dzair News.
#2 Djilali Mehri
Djilala Mehri is the chairman and CEO of Pepsi Algeria, a leader on the soft drink market in Algeria and the sole bottler of Pepsi in the country.
As an investor, he founded GIMMO (Group of Investors of the Maghreb and Middle East) holding company, of which he is the main shareholder.
The Algerian businessman has investments in the trade, real estate, tourism, hospitality and agriculture sectors through Mehri Groupe.
He also owns properties in the Oued Souf province and a luxurious residence in Pre-Bois in Yvelines, France.
#3 Mohamed Laid Benamor
Mohammed Benamor has been the chairman and CEO of Amor Benamor Group since 2003, an Algerian agri-food group founded by his father, Amor, in 1984.
The group specializes in pasta, durum wheat and couscous production. Benamor Group is also famed for producing canned tomato paste, fruit jams, culinary aids and spices.
Since its founding in Algeria, the group has grown into a leading manufacturer of packaged food products in the country, generating an annual revenue of more than $100 million.
Aside from his role in Amor Benamor Group, Benamor is the president of the Algerian Chamber of Commerce and Industry.
#4 Mahieddine Tahkout
Mahieddine Tahkout is one of the richest men in Algeria. The automobile tycoon is often called the nation’s “Bus King.” He owns one of the largest bus parks in Algeria, with about 3,000 buses and vehicles.
In an effort to diversify his wealth, he founded Sarl Tahkout Manufacturing Company in 2016, with a core focus to operate in the automobiles and auto parts sector.
The businessman generates the majority of his wealth from his transportation business, which provides easy movement for thousands of people in the country.
Aside from his investments in the transportation industry, Tahkout is a shareholder in the French airline, Air Méditerranee.
He is currently being prosecuted for corruption alongside former officials.
#5 Abdel Madjid Kerrar
Abdel Madjid Kerrar is a pioneer investor who invested in the early 1990s in the Algerian pharmaceutical sector.
The Algerian businessman founded Biopharm, Algeria’s flagship pharmaceutical company, in 1992. Under his leadership, the group has grown into a leading producer and distributor of pharmaceutical products.
Kerrar sold a 49-percent stake in the company to a consortium of investors that included Mediterrania Capital Partners in 2013.
Aside from his role in Biopharm, Kerrar is the president of Med investment Holding.
Med Investment Holding was created in 2013 as a Biopharm spin-off, with an initial capital of $66 million.
Biopharm is focused on its core pharmaceutical business.
Med Investment Holding was restructured as an asset management holding.
