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Saudi Arabia Supports Companies to Enter Cameroon, Togo Markets

Douala port is one of the largest ports of Cameroon, which has excellent investment opportunities in infrastructure (Getty Images)
Douala port is one of the largest ports of Cameroon, which has excellent investment opportunities in infrastructure (Getty Images)
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Saudi Arabia Supports Companies to Enter Cameroon, Togo Markets

Douala port is one of the largest ports of Cameroon, which has excellent investment opportunities in infrastructure (Getty Images)
Douala port is one of the largest ports of Cameroon, which has excellent investment opportunities in infrastructure (Getty Images)

The Saudi Ministry of Investment is currently working on listing all national companies interested in investing in Cameroon and Togo as part of its support for Saudi investment abroad and addressing its challenges with the relevant authorities.

Several Saudi government agencies aim to stimulate and support the private sector to enter foreign projects by presenting available investment opportunities and coordinating with relevant agencies to address the challenges.

The Ministry revealed several opportunities in Cameroon and Togo, west of Africa.

The countries have opportunities in port infrastructure, electricity, water networks, sanitation, communications, tourism, agriculture, and phosphates, said the Ministry, asking those interested to determine suitable projects.

According to the data on investment opportunities available in the two republics, of which Asharq Al-Awsat reviewed a copy, the projects implemented in the Douala port include infrastructure for land sites and communications, water, electricity, and various urban facilities.

Togo's legal framework on public-private partnership revealed that project design and scale were optimized to help anticipate risks associated with it and enable public debt management.

The Saudi government provides all incentives and support to national companies and institutions to develop their business locally and internationally.

It will also address the local private sector to participate in international conferences and exhibitions to present its services and explore available investment opportunities.

In 2019, Saudi Arabia established the General Authority for Foreign Trade (GAFT) to promote the Kingdom's international trade gains and defend its interests in foreign trade, contributing to developing its national economy.​

GAFT is concerned with all tasks related to developing policies and strategies of foreign trade in coordination and alignment with the public and private sectors, in addition to several tasks, including the supervision of commercial attachés abroad and joint Saudi-foreign business council.

GAFT is also concerned with international trade relations, dispute settlement, and negotiations on free trade agreements and bilateral, regional, and international agreements.

It aims to protect the Kingdom's industry from harmful practices in international trade by implementing trade remedies procedures stated in World Trade Organization agreements.

Meanwhile, the Saudi Fund for Development aims to involve the private sector in projects in developing countries by empowering local capabilities and increasing its ability to export its services and products to foreign markets.

Vision 2030 came with ambitious aspirations and targets to develop local content and export national services and products abroad, which requires complementary work between various government agencies and partners from the private sector.

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Saudi Cybersecurity Market Tops $4.3 Billion in 2025

Employees working on computers (National Cybersecurity Authority). 
Employees working on computers (National Cybersecurity Authority). 
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Saudi Cybersecurity Market Tops $4.3 Billion in 2025

Employees working on computers (National Cybersecurity Authority). 
Employees working on computers (National Cybersecurity Authority). 

Saudi Arabia’s cybersecurity market reached SAR 16.3 billion ($4.3 billion) in 2025, recording a compound annual growth rate of 10.7% over the past three years, according to a new report by the National Cybersecurity Authority (NCA).

Government spending on cybersecurity products and services totaled SAR 5.1 billion, accounting for 31% of the market, while private sector expenditure reached SAR 11.2 billion, representing 69%.

The figures were released in the NCA’s report, Key Economic Indicators in Saudi Arabia’s Cybersecurity Sector 2026, which examines market size, the sector’s contribution to gross domestic product, workforce trends and other measures of growth.

Contribution to GDP

The cybersecurity sector contributed approximately SAR 20 billion to Saudi Arabia’s GDP at current prices in 2025, registering a compound annual growth rate of 13.2%, the authority reported.

Of that amount, SAR 9.7 billion represented the direct contribution of cybersecurity products and service providers, while indirect contributions totaled SAR 10.3 billion.

The sector accounted for 0.42% of the Kingdom’s overall GDP and 0.71% of non-oil GDP.

The cybersecurity workforce exceeded 22,000 specialists last year, reflecting a compound annual growth rate of 5.9%.

The report linked this expansion to specialized training initiatives and programs designed to meet the needs of vital sectors and support economic and social development.

Women accounted for 33% of cybersecurity professionals in Saudi Arabia, surpassing the global participation rate of approximately 22%.

Spending on products and services

Cybersecurity products accounted for 51% of total market spending, valued at SAR 8.3 billion, while services represented 49%, or SAR 7.9 billion.

The report identified key areas of spending, including endpoint security and management, cybersecurity systems integration, network security, data security and security operations solutions.

Public-private cooperation

The NCA highlighted efforts to strengthen competitiveness, encourage investment and innovation, and promote cooperation between the public and private sectors as key drivers of market growth.

The study classified cybersecurity offerings into 100 products and services, drawing on internationally recognized methodologies, standards and practices.

The NCA is Saudi Arabia’s designated cybersecurity authority and national reference body, tasked with protecting the Kingdom’s vital interests, national security, critical infrastructure, priority sectors, and government services and activities.

Its responsibilities also include stimulating industry growth, promoting innovation and investment, conducting research and development, and issuing periodic reports on cybersecurity at the national and sectoral levels.

Business

Bank of England's Breeden: Cost-cutting by Firms Helping Central Bank

FILE PHOTO: Deputy Governor for Financial Stability, Sarah Breeden during the Bank of England financial stability report press conference, at the Bank of England, London. Picture date: Tuesday July 7, 2026. Doug Peters/Pool via REUTERS/File Photo
FILE PHOTO: Deputy Governor for Financial Stability, Sarah Breeden during the Bank of England financial stability report press conference, at the Bank of England, London. Picture date: Tuesday July 7, 2026. Doug Peters/Pool via REUTERS/File Photo
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Bank of England's Breeden: Cost-cutting by Firms Helping Central Bank

FILE PHOTO: Deputy Governor for Financial Stability, Sarah Breeden during the Bank of England financial stability report press conference, at the Bank of England, London. Picture date: Tuesday July 7, 2026. Doug Peters/Pool via REUTERS/File Photo
FILE PHOTO: Deputy Governor for Financial Stability, Sarah Breeden during the Bank of England financial stability report press conference, at the Bank of England, London. Picture date: Tuesday July 7, 2026. Doug Peters/Pool via REUTERS/File Photo

Bank of England Deputy Governor Sarah Breeden said on Thursday that cost-cutting by UK companies in response to the energy price shock caused by the Iran war would make it easier for the central bank to contain inflation.

"What's really different now, relative to when we had the last energy shock in 2022, is that people aren't looking to push costs through," Breeden said in an interview with ⁠CNBC television.

"There's a desire ⁠to absorb the shock rather than just pass it on, which makes our job as monetary policymakers a bit easier in these uncertain times,” Reuters quoted her as saying

The comments about cost-cutting by companies echoed those made by BoE Governor Andrew ⁠Bailey earlier this week.

Breeden has voted with the majority of the Monetary Policy Committee to keep borrowing costs on hold since the start of the Iran war but said in September that she might change her stance if the energy price shock feeds through into broader inflation.

Investors are pricing a quarter-point rate hike by the BoE next month as a ⁠near ⁠certainty.

Breeden, in Bangkok for the semi-annual International Monetary Fund meetings, also told CNBC she hoped wages would not rise sharply as they did in 2022 after Russia's full-scale invasion of Ukraine due to weakness in the labor market now.

Earlier on Thursday, BoE Chief Economist Huw Pill said a rate hike by the central bank should not be interpreted by investors as the start of a long series of increases.

Business

IMF Expects Middle East Economies to Rebound to 6.6% Growth in 2027

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) attends a press conference at the IMF/World Bank 2026 Spring Meetings in Washington, D.C., US, April 16, 2026. REUTERS/Elizabeth Frantz
Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) attends a press conference at the IMF/World Bank 2026 Spring Meetings in Washington, D.C., US, April 16, 2026. REUTERS/Elizabeth Frantz
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IMF Expects Middle East Economies to Rebound to 6.6% Growth in 2027

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) attends a press conference at the IMF/World Bank 2026 Spring Meetings in Washington, D.C., US, April 16, 2026. REUTERS/Elizabeth Frantz
Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) attends a press conference at the IMF/World Bank 2026 Spring Meetings in Washington, D.C., US, April 16, 2026. REUTERS/Elizabeth Frantz

The International Monetary Fund expects the economies of the Middle East, North Africa and Pakistan to rebound to growth of 6.6 percent in 2027, following a projected contraction of 1.3 percent this year, amid the economic fallout from the regional war and disruptions to energy production and trade, which have affected countries across the region to varying degrees.

Jihad Azour, the IMF's director for the Middle East and Central Asia, said economies directly affected by the conflict are facing severe pressures, while other economies in the region, along with most countries in the Caucasus and Central Asia, have shown greater resilience.

He explained that the path of the recovery will depend largely on how quickly energy production and trade return to normal and on countries’ ability to maintain macroeconomic stability.

The forecasts come after the economies of the Middle East, North Africa and Pakistan grew by 3.3 percent in 2025, illustrating the scale of the shock expected this year before a strong rebound next year.

Azour stressed, however, that the overall projections mask significant disparities among the region’s economies and that the recovery will not be uniform across countries.

Oil Exporters and Importers

Azour said oil-exporting countries directly affected by disruptions to energy production and trade will experience a marked contraction in 2026, although higher oil prices will provide some support to their fiscal and external positions.

A gradual recovery in production and trade is expected to drive a strong rebound in GDP growth in 2027, although output levels will remain below the trajectory projected before the outbreak of the conflict.

By contrast, economic activity in the region’s oil-importing countries has remained relatively resilient during 2026 and is expected to continue doing so. Workers’ remittances, tourism revenues, favorable financial conditions and government support have helped cushion the immediate impact of the shock, although the policy space available to governments is narrowing.

The IMF expects inflation in these economies to rise moderately in 2026 before gradually easing thereafter.

The Chinese-flagged container shipping vessel Hui Fa transits the Gulf of Oman on October 13, 2026. (Photo by AFP)

Lower Inventories, Greater Risks

Azour noted that the impact of the energy shock has been less severe than initial estimates suggested, thanks to surpluses accumulated before the war, production by non-Gulf countries, alternative transportation routes, adjustments in demand and drawdowns from inventories.

He cautioned, however, that these factors have provided time for adjustment but are not sustainable resources. Available inventories have declined and spare production capacity has narrowed, leaving markets more vulnerable to larger price increases should disruptions recur.

Azour identified a prolonged war as the most significant risk to the outlook, warning that further disruptions to energy production, shipping routes or critical infrastructure would weaken economic activity among Gulf oil exporters, increase inflationary pressures and exacerbate fiscal and external strains across the region.

He also warned that tighter global financial conditions could weaken demand, raise borrowing costs and increase pressure on currencies, particularly in economies with substantial sovereign debt-financing needs or a heavy reliance on external financing.

Low-income and fragile economies remain the most vulnerable to these risks because of their dependence on food imports and limited fiscal space, at a time when official development assistance is also declining.

Call for Targeted Support and Rebuilding Fiscal Buffers

Azour urged policymakers to prioritize price stability and fiscal sustainability, using monetary policy as the first line of defense when inflationary pressures emerge, complemented by prudent fiscal policy, particularly in countries with limited financial resources.

He stressed the importance of rebuilding fiscal buffers to withstand future shocks by strengthening domestic revenues, improving spending efficiency and developing stronger fiscal frameworks. He cautioned against broad-based subsidies, favoring instead temporary and targeted cash assistance for the groups most affected, helping keep the cost of intervention within budgetary limits.

Over the longer term, Azour emphasized the importance of strong institutions, credible monetary frameworks and central bank independence, alongside greater trade diversification, deeper regional integration and a stronger capacity to adopt new technologies, including artificial intelligence, to boost productivity and support growth.

Azour noted that the IMF has approved approximately $48 billion in financing for countries in the region since 2020. During fiscal year 2026, it also carried out around 437 technical assistance and capacity-building projects in 31 countries.

The IMF is scheduled to release its full regional report in Dubai on October 22, providing a more detailed assessment of economic developments and policy priorities.