Israeli-Russian billionaire Arkady Gaydamak said on Wednesday he planned to testify at the trial of French politicians over the so-called Angola-gate arms deal scandal.

"I am going to France after the municipal elections to tell the truth and to prove that this Angolagate affair is a fabrication," said Gaydamak.

Top French politicians and officials are accused of violating a ban on selling arms to Angola in the 1990s, at the height of the southern African nation's civil war, and receiving received tens of millions in bribes.

A total of 42 people, including Gaydamak, are on trial in the case which opened in Paris on October 6.

Gaydamak, who is hoping to be elected mayor of Jerusalem in the November 11 municipal elections in Israel, is accused of shepherded shipments of 420 tanks, 150,000 shells, 12 helicopters and six warships over five years.

"I have material proof that this fabrication was the work of (former French president Jacques) Chirac and his cronies to destabilise his political opponents," he told AFP.

"I have nothing to fear because I am completely innocent and I am being accused groundlessly," said Gaydamak, who also holds Angolan, Canadian and French passports.

"There were never any illegal arms sales."

Gaydamak said he believed he was certain of winning the race for Jerusalem mayor, adding: "I am the only one who can really change things in Jerusalem and across the country."