By AFPMore by this AuthorAlgiers,Algeria's richest man Issad Rebrab, who heads its biggest privately-owned conglomerate Cevital, went on trial Tuesday accused of tax, banking and customs offences. He was one of several tycoons arrested in April as part of a corruption probe following the resignation of president Abdelaziz Bouteflika after weeks of mass protests against his 20-year rule. They are charged with breaking laws on foreign exchange and fund transfers as well as forgery and false custom declarations. Forbes magazine lists Rebrab as Algeria's richest man and the sixth-wealthiest in Africa, with a net worth of $3.9 billion in 2019. Cevital employs 18,000 people, produces electronics, steel and food, and in recent years it has acquired businesses in France.

Source: Daily Nation December 31, 2019 19:07 UTC