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Saudi Arabia, Ghana Strengthen Collaboration in Agriculture, Food Security

Alfadley's tour of Africa included visits to Senegal, Côte d’Ivoire, Nigeria, and Ghana - SPA
Alfadley's tour of Africa included visits to Senegal, Côte d’Ivoire, Nigeria, and Ghana - SPA
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Saudi Arabia, Ghana Strengthen Collaboration in Agriculture, Food Security

Alfadley's tour of Africa included visits to Senegal, Côte d’Ivoire, Nigeria, and Ghana - SPA
Alfadley's tour of Africa included visits to Senegal, Côte d’Ivoire, Nigeria, and Ghana - SPA

Saudi Minister of Environment, Water, and Agriculture Eng. Abdulrahman Alfadley and Minister of Food and Agriculture of Ghana Dr. Bryan Acheampong reached an agreement during Alfadley's tour of Africa, strengthening relations and increasing investment opportunities in agriculture, food security, fisheries, and livestock.
The two officials agreed to work together to ease the process of investing in their countries, to serve the common interest, and expand the scope of economic partnership, SPA reported.
Alfadley's tour of Africa included visits to Senegal, Côte d’Ivoire, Nigeria, and Ghana, and is part of efforts to implement the outcomes of the recent Saudi-African Summit.
The tour aims to strengthen ties and collaboration between Saudi Arabia and African states.

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Saudi Digital Payments Market Attracts Global Investments

Visitors to the Fintech 24 Conference in Riyadh (Photo: Turki Al-Aqili)
Visitors to the Fintech 24 Conference in Riyadh (Photo: Turki Al-Aqili)
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Saudi Digital Payments Market Attracts Global Investments

Visitors to the Fintech 24 Conference in Riyadh (Photo: Turki Al-Aqili)
Visitors to the Fintech 24 Conference in Riyadh (Photo: Turki Al-Aqili)

Saudi Arabia is pushing to increase digital payments to 70% by 2030, creating significant opportunities for global companies to expand in the region.
According to the Saudi Central Bank, electronic payments in the retail sector grew by 12% in 2023, reaching 70% of total transactions. Cashless transactions hit 10.8 billion, up from 8.7 billion in 2022, driving international companies to establish regional headquarters and capitalize on this growing market.
Nouf Al-Salama, Business Development Manager at PayerMax, told Asharq Al-Awsat that the company has opened a regional office in Saudi Arabia to strengthen its presence in the Middle East and North Africa (MENA) region.
She noted that the Gulf Cooperation Council (GCC) countries are expected to experience rapid growth in e-commerce, with Saudi Arabia and the UAE leading the change. According to CNNB Solutions, both countries are seeing a compound annual growth rate (CAGR) of 39% and 38%, respectively.
Federico Pienovi, Head of Commercial Operations for Asia, the Middle East, and Oceania at Argentine company Globant, revealed the company’s ambitions to generate $1 billion in revenue in the Saudi market over the next five years.
He said that Saudi Arabia has been selected as Globant’s regional headquarters, although the company is expanding across the region. With these ambitions, Globant plans to create over 500 local jobs in the coming years, continue its expansion, support national talents, and work on major projects that bring cutting-edge technology innovations to the Kingdom, he underlined.
Mordor Intelligence projects a 15.4% CAGR for Saudi Arabia's payment market between 2022 and 2027, making it one of the most advanced markets transitioning towards a cashless society.
PayerMax estimates the global digital payments market, valued at $7.79 trillion in 2022, will reach $14.77 trillion within five years, driven by the growth of digital wallets, smartphones, and payment technologies. Emerging economies’ rapid smartphone adoption is expected to further fuel this growth.