Saudi Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), attended the 15th Francophonie Summit in Dakar at the invitation from Senegalese President Macky Sall.
The royal ensured the diplomatic presence of Saudi Arabia alongside the 57 countries of the International Organization of La Francophonie (IOF), and the 19 other nations in attendance.
Prince Alwaleed met with President Sall to discuss economic and investment issues and the president commended Prince Alwaleed for his local, regional and international investments.
Kingdom Holding’s chairman also took the opportunity to meet with the French President Francois Hollande to discuss the bilateral relations between Saudi Arabia and France.
KHC’s investments in France are considered to be the largest Saudi presence in France, particularly through the company’s ownership and management of the iconic landmark The Four Seasons Hotel George V, the management of Le Royal Monceau Hotel (Raffles) and Disneyland Paris – saved from bankruptcy by KHC and Walt Disney – and through Citigroup.
The Alwaleed Bin Talal Foundation also donated $20m in 2005 to establish the centre for Islamic Art at the Musée du Louvre.
Prince Alwaleed first visited Senegal in 2003, meeting with the then President Abdou Diouf, and receiving the presidential medal – the Grand Officer Del’ordre National Du Lion – in recognition of the his trip.
At the time, the Alwaleed Bin Talal Foundation had donated approximately $1.5m through to Senegal for the development of health and education projects.