Saudi Vision Invest Bets $700 Million on Africa Industry Drive

Saudi Arabia’s Vision Invest is investing $700 million in a developer of special economic zones in Africa, adding to a flurry of Middle Eastern deals into the continent.

Arise Integrated Industrial Platforms will use the proceeds to expand across the continent and develop green, inclusive, and sustainable industrial ecosystems, it said in a joint statement. Arise has developed industrial parks in Gabon, Benin and Togo helping lure factories to process wood, cotton, cashew, pharmaceuticals and meat.