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South Africa says Saudi Arabia to invest $10 billion in the country, focus on energy

Reuters  |  JOHANNESBURG 

JOHANNESBURG (Reuters) - Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, the spokeswomen for South Africa's president Cyril Ramaphosa said on Thursday. The move is part of Ramaphosa's drive to attract $100 billion in investment to boost the ailing economy.The pledge was made by Saudi Crown Prince Mohammed bin Salman during an official visit by Ramaphosa and government ministers to the oil producing nation, spokesman Khusela Diko said . "Most of it will be in the energy sector - including building refineries, ...

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First Published: Thu, July 12 2018. 22:44 IST
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