Kuwait eyes African investments

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Reuters | 19 July 2009

Kuwait City – Kuwait sees good investment opportunities in Africa and is in talks with countries there about securing food supplies, state news agency Kuna said citing the country's finance minister.

Kuwait is eyeing investments in industrial and developmental projects in Africa, Mustapha Al-Shamali said during a trip headed by Prime Minister Sheikh Nasser Al-Mohammad Al-Sabah to seven African countries.

"We found good ground for future cooperation, especially in investments in the industrial sector and other areas, as well as investment projects concerning food security in these (African) countries," Shamali told Kuna.

"We will help them through signing several agreements that will be core for implementing this policy."

Kuwait, the world's fourth largest oil exporter, had earlier said it was interested in investing in agriculture and farmland abroad as it looks to diversify its sources of food.

The delegation, which includes the Kuwait Investment Authority (KIA), the country's sovereign wealth fund, has visited Benin and Gabon, Shamali said.

"Our visits have so far been successful, and saw the signing of many important agreements," he added, without elaborating.

Kuwait and Djibouti are expected to hold official talks on Sunday, and sign seven joint agreements in various fields, Kuna said, without giving details.

Kuwait, the world's fourth largest oil exporter, had said it was interested in investing in agriculture and farmland abroad as it looks to diversify its sources of food.
Original source: Reuters
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2 Comments


  1. Abduljelil Olawore
    07 Jan 2013

    this will bring a better moment to the army of unemployed graduate in Nigeria.I would be glad to be part of this.

  2. Agribusiness Investment
    27 Jul 2009

    Yes, it is the good place to start agricultural investments..

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