Saudi Arabia going to "change game" in Africa

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 November 9 during the Saudi-Arab-African Economic Conference in Riyadh.

“We are working with partners to support Ghana and other countries regarding their debt,” Al Arabiya quotes Jadaan as saying.

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.