Algerian businessman Issad Rebrab has called on the Algerian government to encourage investment in the country via the launch of initiatives and to introduce deep reforms to drive economic growth.
Issad Rebrab is CEO of Cevital Group and the wealthiest man in the country, with an estimated net worth of $4.8 billion.
He believes that Algeria could have high economic performance if the government frees up initiatives and introduces deep, radical and rapid reforms, leveraging its material and geographic positioning.
“Algeria today has all the assets, geostrategic, dimensioning, by its proximity to Europe and its positioning vis-a-vis Africa. We can be the link between the two continents, the developed European continent and the African continent and, at the same time, the continent of Asia and that of America,” he said.
Rebrab is the head of the Algerian billionaire Rabrab family and the world’s second-richest Arab after Nassef Sawiris.
His company, Cevital Group, owns one of the world’s largest sugar refineries, with a capacity to generate 2 million tonnes of refined sugar per annum.
Cevital is Algeria’s largest privately held company, with the Rabab family its majority stakeholders.
The company was founded in 1998 and was initially focused on the food industry. However, Rebrab later diversified the company into the automotive, household appliances, transport (road and sea), float glass production and large-scale retail sectors, making it Algeria’s largest conglomerate.
