Kingdom expands energy investments in Africa

Saudi-Africa collaborations are expected to drive infrastructure development, enhance oil and gas production capacity and facilitate knowledge transfer between Saudi and African energy stakeholders

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IN February 2025, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, and Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman Al Saud, signed an agreement to develop an executive plan for energy efficiency cooperation, strengthening bilateral ties in the energy sector and fostering sustainable development.

This follows another significant development in September, in which Egyptian Prime Minister Mostafa Madbouly secured a $5 billion pledge from Saudi Arabia’s Public Investment Fund (PIF), representing the “first phase” of a larger investment strategy.

As a leading global energy giant, Saudi Arabia has been actively investing in Africa’s energy sector, aiming to expand its energy reserves, advance energy diplomacy and compete with other global superpowers.

This strategic push not only strengthens Saudi Arabia’s influence in the region, but also paves the way for deeper economic and political ties with African nations.

To date, the lion’s share of investment in Africa’s energy sector has focused on clean energy advancements.

With total project costs reaching $7 billion across the continent, Saudi developer ACWA Power stands as the leading private-sector investor in African renewable energy.