PIF investments ‘game changer’ in Africa: Al Falih

Saudi Minister of Investment Khalid Al-Falih

The Public Investment Fund (PIF) views Africa with “great interest,” Minister of Investment Khalid Al Falih said at the Saudi-Arab-African Economic Conference.

“I believe they will be in due course making some game-changing announcements about their intent to invest in Africa,” the Minister noted.

ACWA Power is a pioneer investor in the African continent and seeks to invest tens of billions of dollars in the coming decades in Africa. It aims to confront the lack of energy in the continent.

Moreover, Saudi Aramco started investments in the continent to provide traditional energy and infrastructure.

The current volume of Saudi investments in Africa amounts to at least $75 billion, Although it is a fairly good investment volume, it is considered as relatively small, given the great opportunity available on the continent, Al Falih noted.