According to a recent study on foreign investment in African countries released by the King Faisal Center for Research and Islamic Studies, Gulf companies invested more than $1.2 billion in the Sub-Saharan African region from January 2016 to July 2021, with the UAE and Saudi Arabia accounting for 88 percent of projects, followed by Qatar and Kuwait.
In Ethiopia, approximately 305 Saudi investors obtained licenses over a ten-year period to implement 141 projects in agricultural and livestock production, as well as 64 other projects in the industrial sector.
According to the study, Saudi investments in Sudan have also increased. Over the last two decades, the value of joint projects has totaled $35.7 billion, including ongoing projects valued at $15 billion.
The UAE is the fourth largest global investor in Africa, trailing only China, Europe, and the United States, and the continent’s top Gulf investor, with investments totaling $25 billion between 2014 and 2018, reveled the study.
Source: Asharq Al-Awsat Newspaper
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