Saudi Arabian-African relations the focus as top diplomats and business leaders converge in Paris to foster strategic partnerships
Saudi Arabian-African relations were the focus as The Ninth conference of ‘The African Ambassadors in Paris’ brought together over 100 prominent diplomatic and business decision makers from France, Africa, and the Gulf countries to discuss the theme of ‘Economic cooperation between Saudi Arabia and African countries.’ Distinguished speakers, including ambassadors from both regions and industry experts, shed light on the burgeoning business relations between Saudi Arabia and Africa, emphasizing the new investment strategies and the pivotal role of Saudi family businesses in Africa’s growth.
Boosting Saudi Arabian-African diplomatic and business relations
Over 100 top diplomats and business leaders gathered in Paris for the highly anticipated ‘African Ambassadors in Paris’ conference. The event served as a platform to explore and strengthen Saudi Arabian-African economic cooperation. Four African ambassadors, H.E Doreen Amule (Uganda), H.E. François Nkulikiyimfura (Rwanda), H.E. Senkoun Sylla (Guinea), and H.E. Vijayen Valaydon (Mauritius), graced the occasion alongside representatives from various embassies.
Vision 2030: A path towards diversification and strategic alliances
H.E. Fahad M. Al Ruwaily, Ambassador of Saudi Arabia to France, seized the opportunity to present a comprehensive overview of the burgeoning relations between the Kingdom and African countries. With a detailed exposition of the Saudi Vision 2030, led by H.M. King Salman and H.H Crown Prince Mohammed Bin Salman, Ambassador Al Ruwaily highlighted Saudi Arabia’s quest for diversification, higher investment returns, and the forging of new strategic alliances with African partners. Vision 2030, a blueprint for economic transformation, marks a significant milestone in the Kingdom’s pursuit of global collaborations and sustainable growth. Dominique Brunin, Director of the Franco-Arab Chamber of Commerce talked about the business relations between the KSA and Africa.
The emergence of Saudi family businesses in Africa
In a compelling address, Houssam Nasrawin, Managing Director of Orous Capital, offered valuable insights into the investment strategies of Saudi and GCC institutional investors, including Sovereign Wealth Funds, Pension Funds, and Development Funds. Nasrawin emphasized the Kingdom’s new investment approach under the Vision 2030, driving Saudi Arabia’s role as a key player in international investment. He highlighted the crucial role played by Saudi family businesses and family offices in the Kingdom’s investments in Africa, signaling their increasing significance in future collaborations.
Encouraging a stronger collaborative spirit, Nasrawin concluded his presentation by advocating for enhanced cooperation between Europe, Africa, and Saudi Arabia. As the “new Saudi Arabia” takes shape, driven by the ambitious Vision 2030, the Kingdom emerges as a powerful player on the international investment stage, he said.
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