Saudi Arabia has announced plans to expand its diplomatic and economic footprint across Africa, pledging $25 billion in new investments and the opening of more than 40 embassies across the continent in the coming years.
Deputy Minister of Foreign Affairs Walid Al-Khereiji made the announcement during the Africa Day reception in Riyadh, underscoring the Kingdom’s growing commitment to African development and partnership. He outlined that the investment package includes $10 billion in export financing and $5 billion in additional development funding by 2030.
“Africa holds a vital place in Saudi Arabia’s foreign policy,” said Al-Khereiji, noting that the Kingdom has already provided over $45 billion in aid and development projects to 54 African countries. Additionally, the King Salman Humanitarian Aid and Relief Center (KSrelief) has delivered more than $450 million in humanitarian assistance to 46 African nations.
The minister emphasized Africa’s immense potential, highlighting its natural wealth, youthful population, and aspirations for peace and progress despite ongoing challenges like climate change and conflict.
The move aligns with Saudi Arabia’s broader strategy to strengthen its global partnerships and boost its influence in international forums by deepening cooperation with African states.