Sonelgaz

Based in Algiers, Sonelgaz is widely regarded as one of Algeria's flagship utilities operators. Its scale — about 80k people, around $6B in turnover — translates into genuine strategic weight across Middle East & North Africa.

Talent density and engineering culture have become a quiet competitive moat, particularly as the sector consolidates around fewer global champions.

“Sonelgaz is, in its category, exactly the kind of compounding regional champion the next decade of capital allocation will reward.”

Capital markets have started to price in the durability of the model, and rating agencies have followed.