In a landmark announcement, Saudi Arabia has pledged $25 billion in private sector investments across Africa over the next decade.

The initiative, revealed by the Kingdom’s Finance Minister, targets infrastructure, agriculture, and energy sectors—offering a vote of confidence in Africa’s economic trajectory.

This bold move not only brings capital into the continent but also deepens economic ties and fosters sustainable cross-regional partnerships.

Speaking at the Future Investment Initiative New Africa Summit in Riyadh, the Kingdom’s Finance Minister Mohammed Al-Jadaan said that Saudi Arabia is actively involved in shaping the future of Africa by lending aid for philanthropic activities and guiding the continent toward economic diversification.

Saudi Arabia has spearheaded several initiatives to develop the African continent, with the latest one being a memorandum of understanding signed in April.

The agreement was between the Saudi Fund for Development and the African Development Bank Group to provide funding for emerging economies in the continent.

He added: “It is expected that Saudi Arabia’s private sector investments in Africa will reach $25 billion in the coming 10 years. Since the summit (Saudi-Africa Summit), within less than a year, we are working on $5 billion of these investments.”

During his speech, the finance minister also highlighted some of the major initiatives the Kingdom took to propel the socio-economic conditions in Africa, including $10 billion provided by the Saudi EXIM Bank to deliver financing products in Africa in the coming 10 years.