Issad Rebrab, an entrepreneur from Algeria and one of the wealthiest people in Africa, has an estimated net worth of $5 million as of December 2022.
Issad Rebrab Earnings and Networth
He serves as the CEO of Cevital Industrial Group, the biggest privately held company in Algeria that is involved in the food, agribusiness, steel, and electronics industries. In addition, he served as the Cevital Group's Board of Directors Chairman.
Issad Rebrab Biography and Early Life
Full Name - Issad Rebrab
Date of Birth - May 27, 1944
Age - 78 years
Profession - Enterprenuer
Height - N/A
Nationality - Algerian
Source of wealth - Business
Annual Salary - N/A
Net worth - $5 million
Last updated - December 2022
Issad Rebrab was born on May 27, 1994, in the Tizi Ouzou village of Tagumount-Azzouz, Algeria. It's interesting to note that Rebrab is the descendant of the militant who fought to free Algeria from French rule. Issad is a professional school alumnus.
He also holds a degree from the Forbes School of Business at Ashford University in California. He is married and has five kids working in the Group's management.
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Issad Rebrab Career and Earnings
The fact that Africans are starting to perform remarkably in the business world is no longer breaking news. Africa used to be considered a desolate continent where nothing good ever happened. Today, people like Issad Rebrab are rewriting history.
After graduation, he worked as a teacher, concentrating on accounting and commercial law. He then chose the route of entrepreneurship. In 1968, he quit his teaching position to launch his accounting firm.
When one of his clients suggested he purchase stock in a metallurgical construction company in 1971, his industrial career officially began. He acquired 20% of Sotecom's stock. He founded two more steel-related businesses: Metal Sider in 1988 and Profilor in 1975.
His primary facilities were destroyed in a terrorist attack in 1995. Rebrab decided to leave Algeria once he realized the dangers of remaining. In 1998, he returned with Cevital, the largest agricultural business group.
Rebrab paid $45 million to acquire the El Khabar media group in 2016. He had previously invested in the French-Algerian daily newspaper Liberte, making this his second media venture. In April 2022, he closed the paper.
After his arrest as part of a corruption investigation, Rebrab was placed behind bars at the prison of El Harrach on April 22, 2019, at the public prosecutor's request.
He was released on January 1, 2020, having served more time in custody than the six months he was ultimately given for tax, banking, and customs offenses.
The Cevital Group
The conglomerate's main office is in Bejaia Alegria. The company had revenues of US$3,589 million as of 2009. The workforce of the conglomerate totals 18,000 people.
During a 2017 interview with the French media outlet BFM, Rebrab discussed constructing a rail project over Africa. The project aimed to extend the railways through East and West Africa from North Africa.
When his company encountered problems moving goods throughout middle Africa, he had the idea. However, it was revealed in 2018 that Cevital could not complete its Pan-African rail freight project due to the nation's restrictions on funding international projects.
Cevital later developed into the biggest privately owned company in Algeria. One of the biggest sugar refineries in the world, owned by Cevital, can produce 2 million tonnes of sugar annually.
Twenty years after its founding, Cevital has 26 subsidiaries operating in various sectors, including the food processing, automotive, agribusiness, and services industries. Issad has recently been working to bring the organization's operations to Tunisia, Morocco, Brazil, and Europe.
With the ability to produce 2 million tons of sugar annually, Cevital is also the proud owner of one of the biggest sugar refineries in the world. After that, Issad paid $45 million to buy El Khabar Media Group.
He had owned the French-Algerian daily paper Liberte before that. Furthermore, Cevital owns several European businesses, including the French home appliance manufacturer Groupe Brandt, an Italian steel mill, and a German water purification company.
Cevital Group subsidiaries
- Cevital Food Manufacturing
- HMA (Hyundai Motor Algeria)
- COGETP (Compagnie Generale des Equipements de Travaux Public)
- ACTSpecialist (Associated Car & Truck Specialist)
- Cevital MTP (public Works Equipment)
- Cevicar – Car Renting
- Future Media
- MFG (Mediterranean Float Glass)
- Cevital MineralsBaticompos
- Algerian Prainsa Cevico
- Mountain Cevital
Isaad Rebrab Honors And Awards
He was ranked among the top ten most potent Maghrebis in the world by Arabian Business Magazine in 2012. He ranked 215th out of the 500 most influential Arabs.
He was recognized at the 2015 Africa CEO Forum as CEO of the year. In addition, he was the ninth-richest Arab, according to Forbes, in 2016. In 2016, the Tuscany region of Italy named him Personality of the Year.
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