Saudi Arabia to sign deals worth over $500m with African nations -minister

Source: Reuters.

"We are working with partners to support Ghana and other countries regarding their debt," Jadaan added.

Saudi Investment Minister Khalid Al-Falih later said at the same conference the kingdom's more than $700bn 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 co-operation.

Mozambique's finance ministry issued a statement later in the day saying it had signed a financing agreement of $158m with the Saudi Development Fund for infrastructure projects including the construction of hospitals and a dam.