Saudi Arabia to invest billions in South Africa energy

Saudi Arabia is to pump $10 billion-worth of investment into South Africa, to be focused on its troubled energy sector, according to a South African government spokesperson.

The pledge was made during South African President Cyril Ramaphosa’s state visit to Saudi Arabia this week, where he met with Crown Prince Mohammed bin Salman.

The majority of the cash will be siphoned into South Africa’s energy sector, “including building refineries, petrochemicals and renewable energy,” said government spokesperson Khusela Diko on Thursday, as reported by Reuters.

Saudi Arabia’s pledge…

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