KSA Signs SAR 2 billion Agreements with Africa

Saudi Fund for Development signed today agreements with African countries, for developmental projects worth over SAR 2 billion .

Finance Minister Mohammed Al-Jadaan noted over 400  projects in Africa backed by the Saudi Fund for Development.

Strengthening KSA-Africa Economic Ties


At the Saudi Arab African Economic Conference, Al-Jadaan highlighted the Kingdom’s pursuit of a stronger African voice in global forums by including it in the International Monetary Fund.

Saudi Arabia views Africa as a key trading partner and investment destination.

The Saudi Port Authority is working on facilitating ship movement and connecting the African ports together.

Al-Jadaan spoke of rapid technological advancements and new economic sectors, offering economic cooperation opportunities and development between both sides.

Shared Heritage and Trade Relations


The minister highlighted the partnership and joint destiny between KSA and African countries.

The minister emphasized the shared  trade routes between Arab traders and Africa centuries ago.

KSA is considered a significant market for African products.

The Kingdom values Africa’s role in addressing global economic challenges and has advocated for the African Union’s G20 membership.

Expanding Sectoral Partnerships


Energy Minister Prince Abdulaziz bin Salman seeks to provide clean cooking solutions to African countries like Nigeria.

Salman signed five MoUs with African nations, including Ethiopia, Senegal, Chad and Nigeria.

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