The French Development Agency (AFD) and the Saudi fund for development announced yesterday April 11, they will jointly invest €200 million in African projects, especially in the Sahel region.
“We’ve signed a memorandum of cooperation with the Saudi fund for development, for a strengthened cooperation, a strategic dialog, co-financing, but also €100 million from each partner to develop projects in Africa especially in Sahel,” AFD indicated in a statement.
This Memorandum of cooperation was initiated during the Saudi prince Mohammed bin Salman‘s visit to France.
“As leaders in development, Saudi Arabia and France will jointly work to better meet development needs in Sahel,” said Ahmed Al Khateeb, chairman of the Saudi Fund, quoted in the statement.
During a joint press conference with Mohammed bin Salman, the French President Emmanuel Macron announced a strengthening of both countries’ cooperation in the Sahel, in addition to providing support to the G5 Sahel regional anti-jihadist force (in Mauritania, Mali, Chad, Niger and Burkina Faso).
“Saudi Arabia has not only committed itself alongside France to support G5 Sahel member countries and funding their joint armed forces, but has also announced it will double the effort to support development initiatives in the region under the Alliance for the Sahel. By doing this, the Kingdom is sharing our strategic vision to establish a military and a development component to help our partners in the Sahel,” he said.
Let’s note that the Sahel, stretch of land at south of the Sahara from Mauritania to central Sudan, hosts a mosaic of jihadist movements against which five states in the region have set up, with the support of France, joint combatant units of 5,000 soldiers. For this purpose, Riyadh had already announced in late 2017, a commitment of €100 million to support the new regional anti-jihadist force.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Nigerian household debt reached a record \.7 billion in April 2025, 20.4% of GDP, surpassing corporate debt• Inflation (23%) and low incomes are...
• Nigerian Clarion Shipping West Africa Limited debuts vessel aimed to service the cabotage market in the country, and potentially beyond. • The move...
• Kamoa-Kakula, DRC's largest copper mine, boosts production by 31% to 245,127 tonnes in H1 2025, despite a temporary halt in operations in...
• The African Free Trade Area (AfCFTA) adjustment fund grants a $10 million loan to Telecel Global Services to boost digital connectivity and...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...