African leaders to showcase the continent's economic opportunities at the 2019 Future Investment Initiative in Saudi Arabia

Global leaders, investors gather at the Future Investment Initiative in Saudi Arabia
  • African leaders to seek investment from Saudi’s PIF - one of the world's largest sovereign wealth funds.
  • On the sideline of the event, African leaders will also hold bilateral talks with His Majesty King Salman and His Majesty King Abdullah ll of Jordan.
  • The third edition of Future Investment Initiative (FII), will take place from October 29th to 31st, 2019, in ​Riyadh, Saudi Arabia.

On Wednesday, 30th October 2019, Nigerian President Muhammadu Buhari and other leaders from the continent will showcase the potentials of Africa and seek funds from Saudi Arabia's sovereign wealth funds.

According to the Sovereign Wealth Fund Institute, Saudi Arabia's Public Investment Fund has assets of $290 billion and it is projected to manage about $400 billion assets by the end of 2020.

Who are those participating?

The African leaders will participate in a plenary session, titled, “What is next for Africa: How will Investment and Trade Transform the continent into the Next Great Economic Success Story.

Other participating African leaders include President, Nigeria; Mahamadou Issoufou, President, Niger; Uhuru Kenyatta, President, Kenya; and Denis Sassou- Ngeuesso, President, Congo-Brazzaville.

President Julius Maada Bio, Sierra Leone and Prime Minister Christophe Joseph Marie Dabiré, Burkina Faso are also attending.

On the sideline of the event, African leaders will also hold bilateral talks with His Majesty King Salman and His Majesty King Abdullah ll of Jordan.

What is the Future Investment Initiative?

The third edition of Future Investment Initiative (FII), will take place from October 29th to 31st, 2019, in ​Riyadh, Saudi Arabia. It is an international platform for expert-led debate between global leaders, investors, and innovators.

This year, leaders across the world will network and explore the emerging industries that will shape the global economy and investment landscape over the coming decades.

What is in it for African leaders

According to a statement from the Nigerian Presidency, President Buhari and his delegation will use the occasion to speak about the economic opportunities that abound in Nigeria.

The government said it will leverage on the resources in Saudi’s Public Investment Fund, to seek foreign investments in critical projects in the country’s oil and gas sector, particularly the Ajaokuta-Kaduna-Kano (AKK) gas Pipeline - the 614 km-long natural gas pipeline currently being developed by the Nigerian National Petroleum Corporation.

More than 4,000 delegates from over 90 countries are expected to participate at the event, which will also host 12 workshops on different topics including cities, energy, climate, health, data, mobility, food, travel, sports, shopping, and youth.

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