Saudi Arabia pledges to invest $10bn in South Africa

Saudi Arabia will invest at least $10 billion (R132 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.

Khusela Diko said 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.