News

Saudi Arabia commits to invest $10bn in South Africa

Saudi Arabia commits to invest $10bn in South Africa
  • Comments   -   Friday, 13 July 2018 - 19:30

(Ecofin Agency) - Saudi Arabia announces it would invest $10 billion in South Africa. According to Bloomberg which reported the news giving no further details, this new financing mainly targets energy sector and other key sectors.

Authorities said more funding details would be given by October during an investment summit that will be held in the country. Let’s note that this financing is timely as president Cyril Ramaphosa wants to make South Africa attractive again to investors in order to revive a flagging economy.

According to a recent IMF report (April) the country should record a 1.5% growth this year, slightly up from the 1.3% in 2017.

Moutiou Adjibi Nourou


Liquid Telecom Kenya struck a partnership agreement with Sigfox, specialized in Internet...
Read more |  17 August 2018
World Bank will grant a $15 million loan to Guinea-Bissau, Amadou Oumar Ba,...
Read more |  17 August 2018
The European Bank for Reconstruction and Development (EBRD) provides $44 million to support...
Read more |  17 August 2018
In a statement published on August 15, 2018, the Moroccan company Wafa...
Read more |  17 August 2018
MC Mining which operates Uitkomst coal mine announces that on Thursday 16,...
Read more |  17 August 2018
MTN Uganda, whose license will expire in October 2018, should list its...
Read more |  17 August 2018
The Liberian National Housing Authority NHA has initiated discussions with GELPAZ IMMO...
Read more |  17 August 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.