Saudi Vision Investment Allocates $700M to Boost Africa’s Industrial Sector

Vision Invest from Saudi Arabia is committing $700 million to a company focused on developing special economic zones in Africa, contributing to a surge of Middle Eastern investments on the continent.

Arise Integrated Industrial Platforms plans to utilize the funds to broaden its presence across Africa and create green, inclusive, and sustainable industrial ecosystems, as indicated in a joint statement. The company has already established industrial parks in Gabon, Benin, and Togo, attracting factories to process wood, cotton, cashew, pharmaceuticals, and meat.

From Saudi Arabia to the UAE, Middle Eastern investors have pledged billions to African nations across sectors such as renewable energy, logistics, technology, real estate, and agriculture, surpassing China and European nations in terms of commitments for foreign direct investment. This effort is part of a larger strategy by Gulf countries to enhance their influence in the region.

This investment represents Vision Invest’s inaugural direct engagement in Africa, according to its chairman, Mohammad Abunayyan. It is also deemed “one of the largest private infrastructure capital raises in Africa to date, encompassing both primary and secondary components,” as noted by the companies in their statement.

Additionally, Saudi companies like ACWA Power Co and ports operator Red Sea Gateway Terminal, both supported by the kingdom’s $925 billion sovereign wealth fund, have either invested in or are seeking assets in South Africa, while the UAE has already invested $1.4 billion in Zimbabwe.

Other stakeholders in Arise include the Fund for Export Development in Africa, Africa Finance Corp, and Equitane DMCC.

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