Saudi Arabia to sign $533m deals with African countries

The Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said on Thursday.

"We are working with partners to support Ghana and other countries regarding their debt," Jadaan said during the Saudi-Arab-African Economic Conference in Riyadh.

Saudi Investment Minister Khalid Al-Falih later said at the same conference the kingdom's over $700 billion wealth fund, the Public Investment Fund, will make some "game changing" investments in Africa.

Saudi Energy Minister Prince Abdulaziz bin Salman, also at the conference, signed preliminary agreements with African countries including Nigeria, Senegal, Chad and Ethiopia on energy-related cooperation.