2024-01-13 11:02:19
L’Saudi Arabia, long perceived as a regional power, now aspires to play a leading role on the world stage, not only on the geopolitical level, but especially on the economic and financial level. Faced with the inevitable need to prepare for the post-oil era, Riyad explores new opportunities, and Africa emerges as a strategic target.
On January 10, 2024, theSaudi Arabia brought this vision to life by signing memorandums of understanding with African heavyweights, namely the Morocco, Egypt and the Democratic Republic of Congo (DRC)during the mining conference Future Minerals Forum. These agreements, focused on cooperation in the field of mineral wealth, represent a crucial step in the Saudi economic diversification strategy.
The signatories of these protocols include the Moroccan Minister of Energy Transition and Sustainable Development, Leila Benali ; the Egyptian Minister of Petroleum and Mineral Resources, Tarek el-Mollaas well as the Congolese Minister of Mines, Antoinette N’Samba Kalambayi. Egypt, particularly active in seeking Saudi investments since 2022, and the RDC, seeking to escape Chinese influence, demonstrate the growing appeal ofAfrica pour Riyad.
The Democratic Republic of Congorich in mineral resources, has been the subject of fierce competition between Chine and other international actors. The president’s visit Tshisekedi in Beijing in 2023 aimed to renegotiate unfavorable agreements concluded with China. L’Saudi Arabiawith its fund Manara Mineralsresulting from a joint venture between Ma’aden and the Saudi Public Investment Fund, is ideally placed to invest massively in the Congolese mining sector, thus creating a new and stimulating dynamic.
Although theSaudi Arabia will face fierce competition, particularly from China and Turkey, on the Congolese market, its considerable financial resources and its commitment strengthen its position. THE Moroccofor its part, offers a complex playing field with the already asserted presence of powers such as the Great Britain, Israel, Europe and the United Arab Emirates.
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