We bring to you the top 10 richest men in Algeria
While Algeria with its 40-million strong population can lay claim to only one billionaire – industrial Issad Rebrab of Cevital, a few Algerians have built multi-million and billion dollar empires in industries as diverse as agriculture, food, construction, energy and distribution and earned multi-million dollar fortunes to boot. Their names don’t ring with the African public, and you’ve probably never heard about them before, but they are very successful — and very wealthy.
Meet five ultra-wealthy Algerian entrepreneurs who founded, own and run businesses with proven annual revenues of eight figures or more. Their names don’t ring with the African public, and you’ve probably never heard about them before, but you should probably know them.
Top 10 richest men in Algeria
Abdelmadjid Kerrar is the founder of Biopharm, a large Algerian pharmaceutical company. Biopharm, which was founded in 1992, manufactures and distributes generic drugs. In 2013, Kerrar sold of a 49% stake in the company to a consortium of investors that included Mediterrania Capital Partners. Biopharm currently employs more than 1,500 people and had revenues of more than $500 million last year. Since 2005, it has had a production unit with a capacity of 50 million sales units per year. Biopharm also has an agreement with AstraZeneca to construct a new $125 million manufacturing facility for the local production of a range of drugs for cardiovascular, neurological and oncological pathologies. Kerrer is number one on richest Men in Algeria
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Ali Haddad, 53, is the CEO of ETRHB Haddad Group, a $400 million (annual revenues) company road, hydraulic and building works company. Haddad founded the company in 1997 at the age of 32 after winning a government contract to construct several roads in the Tizi Ouzou, 88 km east of the capital Algiers. Ever since then, ETRHB Haddad has handed important construction contracts in Algeria worth over $2 billion. Haddad is also the controlling shareholder of the Algerian club USM Alger that plays in the Algerian Premier League, and he owns two Television channels, Dzair TV and Dzair News television.
Mohamed Laid Benamor
Source: Food manufacturing
Mohamed Laid Benamor heads the Benamor Group, one of Algeria’s largest food manufacturing companies. Founded in 1984, Amor Benamor produces and distributes everything from durum wheat such as semolina, couscous and pasta to canned tomato paste, fruit jams, culinary aids and spices. The company has annual revenue of more than $80 million per annum.
Condor Group, the industrial manufacturing giant Abderrahmane Benhamadi founded and owns, is involved in the manufacturing and distribution of Air conditioners, televisions, satellite receivers, washing machines, refrigerators, smartphones, tablets, gas cookers, microwaves, desktops and laptops. The company, which has 4,000 employees, exports its products to Europe and had 2017 revenues of more than $700 million. He is one of the richest Men in Algeria
Source: Beverages, Hotels
The 80-year-old tycoon is the founder of Mehri Groupe, a conglomerate with operations in trade, real estate, tourism, hospitality, agriculture and manufacturing. Groupe Mehri controls Atlas Bottling Corporation – the sole bottler of Pepsi products in Algeria. He also owns a collection of luxury hotels across Algeria, including the famous 5-star Royal Hotel located in the coastal city of Oran.