Saudi Arabia to sign agreements worth over $500 million with African countries


The Saudi Fund for Development will sign agreements worth over 2 billion riyal ($533 million) with African countries, said Mohammed Al-Jadaan, finance minister of Saudi Arabia, on Thursday during Saudi – Arab – African Economic Conference held in Riyadh.

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

In the same conference, the kingdom’s investment minister, Khalid Al-Falih, stated that its Public Investment Fund of over $700 billion, will make some “game changing” investments in Africa.


The agreements between the African countries, including Nigeria, Senegal, Chad, and Ethiopia on energy-related cooperation, were signed at the same conference in Riyadh by Saudi energy minister, Prince Abdulaziz bin Salman.