Saudi Arabia is looking to expand its investment ties with South Africa, according to Minister of Industry and Mineral Resources Bandar Alkhorayef, who addressed the Saudi–South African Business Forum on Thursday. The forum was held in Riyadh on the sidelines of the 10th session of the Saudi–South African Joint Committee.
Alkhorayef welcomed South Africa’s recent decision to exempt Saudi citizens from entry visas, describing it as an “important practical step” to encourage greater travel, trade, and cultural exchange. He emphasized that the Kingdom sees South Africa as a strategic partner for long-term investment in industry and mining.
Strengthening Bilateral Ties
Highlighting the history of cooperation between the two nations, Alkhorayef pointed to the establishment of the Saudi Arabia Africa Business Council as a milestone in advancing dialogue and trade. He noted that the council’s successful meeting in Johannesburg in October 2024 led to concrete outcomes, including new channels for cooperation and stronger private-sector partnerships.
“We have turned our promises into reality by establishing a regional headquarters for Ma’aden in South Africa, which will enhance and support our operations across the African continent,” Alkhorayef said.
He added that with South Africa’s advanced industrial base, rich natural resources, and dynamic market, the country remains a strategic partner for Saudi technology transfer and capacity building.
A Promising Partnership
South Africa’s Minister of Trade, Industry and Competition Parks Tau praised the growing economic ties, calling the partnership “promising and complementary.” He described Saudi Arabia as South Africa’s gateway to Middle Eastern markets, while positioning South Africa as the Kingdom’s entry point to the African continent.
Tau also expressed hope for expanded cooperation in trade, agriculture, and infrastructure, emphasizing the importance of technology transfer and developing human, financial, and investment capacities.
Aligning with Vision 2030
The Riyadh meeting builds on momentum from last year’s Johannesburg forum and reflects a shared will to expand economic relations in line with Saudi Vision 2030. Both governments and private-sector leaders view the partnership as a means to enhance trade, deepen industrial cooperation, and seize opportunities amid global economic shifts.
