Saudi Arabia to sign deals worth over $500 mln with African nations -minister

Saudi Minister of Finance Mohammed al-Jadaan gestures during an interview with Reuters at the Ministry of Finance in Riyadh, Saudi Arabia, December 12, 2021. Picture taken December 12, 2021. Photographer Ahmed Yosri/File Photo

By Reuters

The Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said on Thursday during the Saudi-Arab-African Economic Conference in Riyadh.

“We are working with partners to support Ghana and other countries regarding their debt,” Jadaan added.

Saudi Investment Minister Khalid Al-Falih later said at the same conference the kingdom’s over $700 billion wealth fund, the Public Investment Fund, will make some “game changing” investments in Africa.

Saudi Energy Minister Prince Abdulaziz bin Salman, also at the conference, signed preliminary agreements with African countries including Nigeria, Senegal, Chad and Ethiopia on energy-related cooperation.