Saudi Arabia on Wednesday announced ambitious plans to scale up its diplomatic and economic presence in Africa, aiming to boost its investments on the continent to more than $25 billion by 2030, as part of a broader strategy to strengthen development and economic partnerships with African nations.
Deputy Foreign Minister Waleed Al-Khuraiji said the Kingdom intends to expand its network of embassies across the continent to more than 40 in the coming years, underscoring Riyadh’s commitment to deepening its engagement with Africa.
Speaking at a reception marking Africa Day at the Cultural Palace in Riyadh’s Diplomatic Quarter, Al-Khuraiji revealed that Saudi Arabia would provide $10 billion in export financing and secure an additional $5 billion in development funding for African countries by the end of the decade.
“Africa holds a central position in the Kingdom’s foreign policy and diplomatic outreach,” Al-Khuraiji said, noting that Saudi Arabia is keen to enhance cooperation in trade, integration, and multilateral coordination on shared global issues.
He added that the Kingdom has already contributed more than $45 billion to development and humanitarian projects in 54 African countries.
Of that, over $450 million was provided by the King Salman Humanitarian Aid and Relief Center to support efforts in 46 African nations.
