According to media sources, a study released by the King Faisal Center for Research and Islamic Studies regarding foreign investment in Sub-Saharan African countries reveals that companies from the Arabian Gulf invested to approximately USD 3.9 billion between 2005 and 2015, according to recent statistics based on completed projects.
According to the report, Gulf companies invested more than USD 1.2 billion in the sub-Saharan African region, from January 2016 to July 2021, with 88 percent of projects coming from the UAE and Saudi Arabia, followed by Qatar and Kuwait.
The study highlighted the fact that 44 percent of the regional agricultural area is still unexploited, in addition to its great livestock and oil wealth.
Sub-Saharan African Saudi investments
Saudi Arabia has invested in approximately two million hectares across a number of African countries, while a large proportion of the Kingdom’s agricultural projects are concentrated in eastern Africa.
Djibouti has become a logistical hub for agricultural trade movement between Saudi Arabia and East Africa.
Saudi investments in Sudan have also increased, according to the study. The value of joint projects over the last two decades amounted has amounted to USD 35.7 billion, including ongoing projects that are estimated at USD 15 billion.
In Ethiopia, around 305 Saudi investors have obtained licenses over a period of ten years, to implement 141 projects in the field of agricultural and livestock production and 64 projects in the industrial sector.
Sub-Saharan African UAE investments
According to the study, the UAE is the fourth largest global investor in Africa, following behind China, Europe and the United States, respectively, and the top Gulf investor in the continent, with investments reaching USD 25 billion between 2014 and 2018.
The Abu Dhabi Fund for Development was at the forefront of investment and financing activity in Africa, as it financed more than 66 projects in 28 African states, with a value of USD 16.6 billion in 2018. The Fund also allocated USD 50 million to Emirati companies wishing to invest in Chad