The package includes $25 billion in direct investments from private companies, along with funding for startups and loans.
Saudi Arabia announced plans to raise $41 billion in investments and financing for Sub-Saharan African nations. This commitment was revealed by Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan at the Future Investment Initiative New Africa Summit in Riyadh, attended by private investors and representatives of major funding bodies.
According to Al-Jadaan, the $41 billion includes a $1 billion regional development initiative, $5 billion in funding dedicated to African startups, and $10 billion in financing from the Saudi Export-Import Bank (Saudi EXIM Bank). $25 billion will also be invested by Saudi Arabia's private sector.
Al-Jadaan also shared that a coalition of Gulf-supported regional funding bodies is preparing to grant African nations a combined $50 billion in loans by 2030. This coalition, known as the Arab Coordination Group (ACG), includes the Saudi Fund for Development, Abu Dhabi Fund for Development, Arab Bank for Economic Development in Africa, Arab Monetary Fund, and the Islamic Development Bank.
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
This week, Africa is facing a mixed health situation. Namibia has declared an end to its mpox outbre...
Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...
Maluku SEZ to receive river dock to boost logistics Saphir Ceramics funds dock to improve exports via river Facility supports growing industrial...
UNCDF, Co-op Bank Kenya sign guarantee to boost digital lending Risk-sharing aims expand financing access for startups, platforms Deal supports...
Nigeria considers increasing 75 MW electricity exports to Togo Talks focus on meeting rising demand and recent supply disruptions Expansion depends on...
Ghana to submit UN resolution on slave trade March 25 Draft seeks recognition as gravest crime against humanity Backed by AU, CARICOM; aims support...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...