Saudi Arabia to sign deals worth more than $500 million with African countries

The Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said on Thursday during the Saudi-Arab-African Economic Conference in Riyadh.

“We are working with partners to support Ghana and other countries regarding their debt,” Jadaan added.

Saudi Investment Minister Khalid Al-Falih later said at the same conference the kingdom’s over $700 billion wealth fund, the Public Investment Fund, will make some “game changing” investments in Africa.