Son of Algeria’s Richest Man, Omar Rebrab in Trouble with the Central Bank

Omar Rebrab, the son of Algerian billionaire and Cevital founder Issad Rebrab, has found himself at the center of a growing storm. 

Algeria’s central bank has officially barred him from all financial and commercial activities, effectively sidelining him from the country’s corporate landscape amid an ongoing misconduct investigation.

The move, confirmed on July 9, comes in the wake of a court ruling linked to alleged irregularities in Omar’s business dealings. A formal directive issued by the Bank of Algeria has instructed financial institutions across the country to cease any dealings with him. 

More than just a financial clampdown, the order also prevents Omar from holding leadership roles in any company whether as a manager, board member, or director.

This isn’t the first time controversy has touched the Rebrab family. Omar’s father, Issad, who built the Cevital Group into Algeria’s most powerful private business, faced legal troubles in recent years, including a stint in prison. Now, similar scrutiny appears to be following the next generation.

Shift in power within the Rebrab family

As Omar exits the business scene under a cloud of investigation, attention turns to his brother, Malik Rebrab, who currently leads the Cevital Group. 

Since taking over as CEO in 2022 after Issad stepped down, Malik has been steering the company in a new direction, one that sees modernization, sustainability, and local production.

Cevital, known for running one of the largest sugar refineries in the world, now seems to be aligning itself more closely with the government’s economic vision. 

Malik is receiving growing support from Algerian authorities, especially for his efforts to develop a new domestic sugar refinery that could reduce Algeria’s dependence on imports, a sector long dominated by Cevital itself.

Malik’s leadership style contrasts with the turbulence surrounding Omar. Armed with international business experience, including a background at Xerox in Morocco, Malik has focused on expanding Cevital’s global presence and enhancing its operations through sustainable practices.

Is this a push for a greener and more local future

Under Malik’s watch, Cevital has been investing in environmentally friendly infrastructure. A major milestone came in May 2025, when the group signed a deal with Spanish engineering firm Lantania to build a wastewater treatment facility in Béjaïa, a coastal city critical to Cevital’s industrial network.

The plant, designed with modern biological systems, is expected to process wastewater from sugar production at a rate of up to 75 cubic meters per hour. It’s a key step in reducing the company’s environmental impact and signals a broader commitment to cleaner industrial practices.

What happens next?

While Omar’s legal challenges continue to unfold, the Rebrab family’s billion-dollar empire appears to be moving forward under new leadership. Algerian officials, including President Abdelmadjid Tebboune, are placing their bets on Malik to drive the next phase of Cevital’s growth anchored in sustainability and national development.

For now, Omar Rebrab remains frozen out of the corporate world, his future uncertain as investigations progress.