Saudi Exports to Africa Strengthened by Four MoUs
Riyadh, Saudi Arabia — The Saudi Export-Import Bank (EXIM), led by CEO Eng. Saad Al-Khalb participated in the Annual Meetings of the African Development Bank Group. The event, held in Côte d’Ivoire from May 26 to 30, aimed to expand strategic partnerships and boost Saudi exports to Africa.
Four MoUs Strengthen Trade and Investment Ties
During the meetings, EXIM Bank signed four Memoranda of Understanding (MoUs). These agreements were made with Africa50, Ghana EXIM Bank, Blend International Ltd., and Guinea’s Ministry of Planning and International Cooperation.
Each Memorandum of Understanding (MoU) targets a specific area of collaboration. For example, the agreement with Africa50 focuses on infrastructure development. It also supports partnerships with Saudi companies. Meanwhile, the MoU with Ghana EXIM Bank aims to increase trade in goods and services between the two nations.
Moreover, the agreement with Blend International explores commercial opportunities and expands global cooperation. The MoU with Guinea’s Ministry of Planning seeks to strengthen strategic ties. It also promotes Saudi non-oil exports in engineering services and industrial supplies, especially in priority sectors.
High-Level Meetings Advance Export Goals
Eng. Al-Khalb signed the MoUs alongside senior African representatives. These included Africa50 CEO Alain Ebobissé, Ghana EXIM Bank CEO Sylvester Mensah, Blend International Managing Director Rafty Gupta, and Guinea’s Minister of Planning and International Cooperation, Ismail Nabé.
He emphasized that the bank’s participation reflects its ongoing commitment to trade and investment partnerships. Furthermore, he noted that the event provided a valuable platform to engage with African financial leaders and export credit institutions.
Strategic Vision to Expand Saudi Exports
The agreements support EXIM’s goal of facilitating Saudi exports to Africa. Specifically, the bank aims to finance development projects, enable trade, and empower local exporters. These partnerships align with Saudi Arabia’s Vision 2030 by supporting non-oil economic growth and cross-border trade.
Additionally, the delegation held discussions with global financial leaders. These sessions explored new ways to expand trade relations and increase the flow of Saudi goods and services to African markets.
As a result, the bank plays a vital role in economic diversification. It bridges financing gaps, reduces export risk, and enables businesses to access new global markets. Therefore, these efforts are central to building a more resilient, export-driven economy.
