The Kingdom of Saudi Arabia has committed to launch $25 billion worth of investments across Africa.
Crown Prince of the Saudi Kingdom, Muhammad Bin Salman, made the pledge during the inaugural Saudi Arabia – Africa Summit.
African leaders have since described the summit as a catalyst for cementing economic and political ties between Saudi Arabia and Africa.
In his remarks, during the summit, President Dr Lazarus Chakwera pointed out that Saudi – Malawi relations date back to 1999, describing the ties as being very beneficial to Malawi in several sectors.
He further acknowledged the timely assistance that the Saudi Government rendered earlier this year when Cyclone Freddy, made hundreds of people destitute.
“I want to extend my gratitude to the Kingdom of Saudi Arabia for the timely assistance worth half a million dollars that was given to Malawi during Cyclone Freddy,” President Chakwera said.
Dr Chakwera further took time to underscore that Malawi is open for business in areas such as mining.
The first-ever Saudi Arabia – Africa Summit which gathered over twenty Heads of State and Government from across Africa was held under the theme, “Productive partnership.”
Reported by Kumbukani Phiri in Riyadh, Saudi Arabia.