Saudi Vision Investment Invests $700M to Strengthen Africa’s Industrial Sector

Vision Invest, based in Saudi Arabia, is investing $700 million into a company that focuses on developing special economic zones across Africa, marking a notable increase in Middle Eastern investments on the continent.

Arise Integrated Industrial Platforms intends to leverage these funds to expand its footprint in Africa and foster green, inclusive, and sustainable industrial ecosystems, as outlined in a joint statement. The company has previously set up industrial parks in Gabon, Benin, and Togo, which attract factories for processing wood, cotton, cashew, pharmaceuticals, and meat.

Middle Eastern investors, spanning from Saudi Arabia to the UAE, have committed billions to various African nations across sectors including renewable energy, logistics, technology, real estate, and agriculture—outpacing commitments from China and European nations in terms of foreign direct investment. This initiative forms part of a broader strategy by Gulf countries to amplify their influence in the region.

This marks Vision Invest’s first direct investment in Africa, according to chairman Mohammad Abunayyan. He also noted that this is regarded as “one of the largest private infrastructure capital raises in Africa to date, incorporating both primary and secondary elements,” as highlighted by the companies in their announcement.

Furthermore, Saudi firms like ACWA Power Co and ports operator Red Sea Gateway Terminal, both backed by the kingdom’s $925 billion sovereign wealth fund, have invested in or are looking to acquire assets in South Africa, while the UAE has already placed $1.4 billion in Zimbabwe.

Additional stakeholders in Arise include the Fund for Export Development in Africa, Africa Finance Corp, and Equitane DMCC.

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