Saudi Arabia pledges $25bln investments and opening more embassies in Africa
He also expressed Saudi Arabia's aspiration to invest $25 billion in Africa. Al-Kheraiji made the remarks while attending a reception marking the annual Africa Day commemoration, held at the Culture Palace in the Diplomatic Quarter in Riyadh.
Al-Kheraiji stated that Saudi Arabia will finance and secure $10 billion in exports to Africa and provide $5 billion in additional development financing to Africa by 2030.
"Saudi Arabia also affirms its commitment to developing cooperation and partnerships with African countries, expanding trade and integration, and enhancing consultation, coordination, and mutual support within international organizations on issues of common interest," he said.
Al-Khereiji explained that African countries occupy a significant position on the country's foreign policy map and diplomatic network.
"Saudi Arabia has provided more than $45 billion to support development and humanitarian projects in 54 African countries," he said while noting that the King Salman Humanitarian Aid and Relief Center (KSrelief) has provided more than $450 million in aid to 46 African countries.
The deputy minister emphasized that Africa is a continent of promising opportunities, with its natural resources, ambitious youth, and renewable potential.
"Despite the challenges of conflict and climate change, the spirit of African cooperation and the aspirations of the continent's people for peace, justice, and development remain stronger than any challenge," he added.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
26 minutes ago
- Zawya
Diriyah Company showcases world-class luxury hospitality offerings at ILTM Asia Pacific 2025
Diriyah – Diriyah Company participated once again in ILTM Asia Pacific 2025, showcasing its premier luxury hospitality offerings for the business and tourism sectors. This year's ILTM Asia Pacific took place from June 30 to July 3 in Singapore. Throughout the event, Diriyah Company welcomed and engaged with stakeholders, investors, and travel specialists at its distinctively designed booth. Across Diriyah and the adjoining Wadi Safar development areas, nearly 40 world-class hotels and resorts are set to welcome tourists and business visitors, including some of Southeast Asia's most prestigious hospitality names: Anantara, Aman, Capella, Chedi, Raffles, Four Seasons, and Six Senses. In addition to the 202-room Raffles Hotel Diriyah, which features distinctive architectural designs inspired by Najdi heritage, Diriyah also launched the Raffles Residences Diriyah in November 2024, offering 90 apartments and townhouses, primarily featuring one-, two-, or three-bedroom residences, as well as seven spacious duplex homes. Additionally, the arrival of Capella Diriyah, with its 100 rooms, marks the brand's first opening in Saudi Arabia, blending local tradition with contemporary luxury. As the birthplace of the Kingdom of Saudi Arabia three centuries ago, Diriyah is home to the beautifully restored At-Turaif UNESCO World Heritage Site, which has welcomed over three million visitors since its opening in December 2022. Diriyah Company's participation in ILTM Asia Pacific highlighted its commitment to building new relationships and partnerships that will support its growing portfolio of hotels, restaurants, cafes, and cultural attractions that are designed to elevate Diriyah's position within the global luxury tourism landscape. Known as The City of Earth for its traditional mudbrick-inspired Najdi architecture, Diriyah will contribute approximately $18.6 billion (SAR 70 billion) directly to the Kingdom's GDP, create nearly 180,000 jobs and will be home to an estimated 100,000 people. It will also include modern office space for tens of thousands of professionals in technology, media, the arts and education, museums, a university, the Royal Diriyah Opera House, the Diriyah arena, world-class hotels, renowned local, global and regional restaurants, a Greg Norman designed championship golf course and the Royal Equestrian and Polo Club – Wadi Safar. Diriyah is projected to attract up to 50 million visits annually in the future. About Diriyah Diriyah, Saudi Arabia's premier historical, cultural, and lifestyle destination, is a key component of Saudi Arabia's 2030 Vision. A short 15-minute drive from Riyadh's city center, this 14-square-kilometer development holds historical significance as the birthplace of the Kingdom of Saudi Arabia, dating back to 1727. Currently being developed by Diriyah Company, Diriyah is undergoing a transformation into an authentic Najdi-style mixed-use urban community. Diriyah's centerpiece is At-Turaif, the UNESCO World Heritage Site inscribed in 2010, showcasing the ancient adobe capital city of the First Saudi State, dating back to 1766. Upon completion, Diriyah will host more than 100,000 residents, workers, students, and visitors, offering a diverse range of cultural, entertainment, retail, hospitality, educational, and residential spaces. The first of those spaces include Bujairi Terrace, Riyadh's new premium dining hub with over 20 global and local restaurants and cafes that enjoy uninterrupted views of At-Turaif. Bab Samhan, a Luxury Collection Hotel is the first hospitality offering in Diriyah, providing a tranquil experience with panoramic views of Wadi Hanifah. Diriyah's development provides a dynamic environment that celebrates Saudi Arabia's rich cultural history. About Diriyah Company Diriyah Company was launched in 2022 and joined the Public Investment Fund's (PIF) portfolio of giga-projects. The Company is responsible for developing the Diriyah project, the birthplace of the Kingdom of Saudi Arabia and its foremost historical, cultural, and lifestyle destination. A dynamic mixed-use developer, Diriyah Company is redefining urban planning to develop Diriyah, 'The City of Earth', while adhering to the highest design, development, and preservation standards. The company ensures Diriyah's cultural landmarks are complemented by world-class retail offerings, fine-dining experiences, and leading hospitality brands. As a PIF company, its mission focuses on opportunities in development, hospitality, investment, retail, and office leasing, along with strategic asset management, underscoring the commitment to ensuring successful business outcomes and sustainable growth under the strategic direction of Vision 2030. The Diriyah Company actively forges long-term partnerships to realize its vision of establishing Diriyah as one of the world's greatest gathering places.
Zawya
26 minutes ago
- Zawya
Modon sells out Wadeem, the first residential plots on Hudayriyat Island, within 72 hours
Abu Dhabi, UAE: Modon has announced the complete sell-out of Wadeem on Hudayriyat Island within 72 hours of launch, generating sales of AED5.5 billion. The sales place Wadeem as 2025's highest-valued real estate release in Abu Dhabi to date. Set opposite Abu Dhabi's prestigious Al Bateen area, Wadeem is the first new offering of land so close to the city's most exclusive areas in more than 15 years, as well as the first residential plots release on Hudayriyat Island. The rapid sell-out reflects strong demand and rising confidence in the emirate's real estate projects. Bill O'Regan, Group CEO of Modon Holding, said: 'As demand for high-quality real estate in prime locations grows, Modon continues to strengthen its position as a trusted name in shaping vibrant, people-centric destinations. The strong interest in Wadeem is testament to individual and investor confidence in our capabilities in delivering exceptional residential communities.' Ibrahim Al Maghribi, CEO of Modon Real Estate, said: 'The response to Wadeem and the value of sales generated are an outstanding achievement, representing a significant milestone in realising Modon's vision for Hudayriyat Island. The launch reinforces Hudayriyat's position among Abu Dhabi's most desirable residential destinations, offering unparalleled quality, lifestyle, and diversity of choice for future residents.' Offering discerning buyers the opportunity to design and build their own dream homes in one of Abu Dhabi's most desirable emerging locations, Wadeem seamlessly complements Modon's larger Hudayriyat Island masterplan as a unique lifestyle proposition. Plots in Wadeem feature ample room for a four- to six-bedroom villa and are generous enough to accommodate a swimming pool alongside outdoor dining and entertainment spaces. Homes in the community – just a stone's throw from Hudayriyat Island's idyllic coastline – will each offer owners the chance to enjoy stunning views of Abu Dhabi's impressive skyline, as well as easy access to the island's many pristine beaches and the azure waters of the Gulf. At the heart of the neighbourhood will be a community centre with a selection of shopping outlets, a private school, a mosque and a central park, connected by walking and cycling paths meandering through lush greenery. Supporting healthy lifestyles and wellbeing, a selection of local outdoor exercise areas will include a recreational hub boasting swimming pools, a jogging track, and sports courts, as well as a yoga and meditation zone. About Modon: Modon is an international holding company, headquartered in Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX). We are at the forefront of urban innovation, creating iconic designs and experiences that continually surpass expectations. Our primary business sectors include real estate, hospitality, asset management, investments, events, and tourism. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.
Zawya
27 minutes ago
- Zawya
Bahrain sees Robust Pipeline of Financial Institutions: 16 new financial institutions licensed, 52 in progress
Manama, Bahrain: The Central Bank of Bahrain (CBB) has reported a significant increase in financial institution licensing, with 16 new financial firms approved and 52 additional applications underway from early 2024 through mid-2025. This surge highlights Bahrain's growing appeal as a destination for digital-first financial services, with nearly 75% of the 68 applications coming from international applicants. The influx is expected to create over 850 jobs initially, with more opportunities anticipated as newly licensed firms scale their operations. The license applications span a diverse range of categories, including wholesale banks, payments, investment services, insurance, and crypto-asset services. This diverse portfolio reasserts Bahrain as a hub for financial innovation and solidifies its reputation as a competitive launchpad for regional and international firms. Notably, 16 applicants have been licensed during this period, including two wholesale banks, with additional bank license applications currently in the pipeline. The CBB continues to work closely with the remaining applicants to support them in meeting the licensing requirements. Commenting on this, H.E. Khalid Humaidan, Governor of the Central Bank of Bahrain said, "This increase in licensing applications reflects the CBB's dual mandate of ensuring stability while fostering growth, and underscores the strength of our regulatory framework and the Kingdom's unique ability to attract innovation without compromising financial stability. This achievement is the result of close collaboration with our partners across government and industry, and reaffirms Bahrain's role as a gateway for regional and global growth in financial services." Central to this success is the CBB's unified regulatory model, which provides licensees with a single point of contact across all financial sub-sectors. This model eliminates conflicting requirements from multiple authorities, streamlines compliance, and offers consistent oversight. The announcement was made during the FS Horizons: Doubling Down on Digital event, hosted in partnership with the Bahrain Economic Development Board, where industry leaders gathered to highlight Bahrain's advancements in digital banking, payments infrastructure, and talent development.
