Saudi's Africa Push: MBS Pledges $25 Billion Investment, More Embassies | Firstpost Africa | N18G

Saudi's Africa Push: MBS Pledges $25 Billion Investment, More Embassies | Firstpost Africa | N18G

Saudi Arabia is significantly ramping up its engagement with Africa, pledging $25 billion in new investments and plans to open over 40 embassies across the continent in the coming years. Announced by Deputy Minister of Foreign Affairs Walid Al-Khereiji at the annual Africa Day celebration in Riyadh, this strategic pivot includes $10 billion in export financing and $5 billion in additional development funding by 2030. Driven by a desire for geopolitical influence, economic diversification under Vision 2030, access to natural resources, and a bid to become a regional peacemaker amid rivalry with the UAE, Riyadh's comprehensive approach signifies Africa's growing importance on the global stage. Watch this video to know more.

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