Saudi Arabia Strengthens Economic Ties with South Africa, Eyes Long-Term Investments

Saudi Arabia reaffirmed its commitment to deepening economic and trade relations with South Africa, with a strong focus on industry, mining, and investment opportunities. Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted that South Africa’s recent decision to exempt Saudi citizens from entry visas will significantly boost travel, trade, and cultural exchange between the two nations.
Speaking at the Saudi–South African Business Forum in Riyadh, held alongside the 10th session of the Joint Committee, Alkhorayef emphasized the long-standing partnership between the two countries. He pointed to the establishment of the Saudi Arabia–Africa Business Council as a key platform for fostering dialogue, enhancing cooperation, and supporting companies on both sides.
The minister recalled the council’s 2024 meeting in Johannesburg, which delivered tangible results, including expanded trade channels, stronger private-sector partnerships, and the opening of a regional headquarters for Saudi mining giant Ma’aden in South Africa. He stressed that South Africa’s industrial capacity, rich natural resources, and advanced market infrastructure make it a strategic partner for Saudi economic expansion.
South Africa’s Minister of Trade, Industry, and Competition Parks Tau praised the partnership, describing Saudi Arabia as his country’s gateway to the Middle East, while South Africa serves as the Kingdom’s entry point into Africa. He underlined opportunities for cooperation in trade, agriculture, infrastructure, and technology transfer, all aligned with Saudi Vision 2030.
The Riyadh forum reaffirmed the two nations’ shared commitment to expanding cooperation, boosting investment, and building stronger economic bridges across continents.