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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      • CES 2017
      • Election Results
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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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        • Hospitality
          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              African wealth funds seeking foreign partners to fix infrastructure gap

              Reuters

              March 22, 2017
              in Infrastructure
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              Africa, famously short of new roads, ports and power stations, is increasingly leaning on its own sovereign investment funds to help fix its infrastructure gap.

              The funds – which have around $150 billion between them, according to research firm Preqin – are digging in themselves and offering co-investment opportunities and guarantees to attract foreign capital.

              The scale of the problem is huge – some 600 million Africans, or half the continent's population, still lack reliable power, according to a panel discussion at last week's World Economic Forum in Davos.
               
              Meanwhile, consultancy McKinsey has estimated that investment in African infrastructure is so poor it needs to double to $150 billion a year.

              But while investors worldwide are queuing up to finance planned overhauls of transport and energy infrastructure in the West – part of a global search for returns – they have largely bypassed Africa, still considered the preserve of development agencies or specialist funds.

              Africa is still viewed in some circles as a difficult investment, hampered by corruption, war and political risk.

              Now home-grown sovereign wealth funds are seeking to change this perception and kick-start projects themselves.

              Morocco's $1.8 billion Ithmar Capital state fund, for example, is seeking to raise $1 billion-$2 billion from infrastructure specialists and other sovereign funds for its Africa green infrastructure fund. This will focus on clean energy and water projects and is co-sponsored by the World Bank.

              "Energy is probably the biggest impediment to the development of the continent," said Tarik Senhaji, Ithmar's chief executive, said. "The energy cost is so high you can't develop anything else.

              "A lot of the sovereign funds and pension funds we are speaking to are extremely interested in infrastructure – the question is how do you bring the risk perception of Africa down so they can co-invest with us?" Senhaji said.

              It is early days. Last year three Africa-focused infrastructure funds raised $665 million, according to Preqin – just one percent of the total $61.2 billion raised by 54 infrastructure funds globally.

              Yet the 15-20 percent returns on offer in Africa are higher than the 8-12 percent offered in developed markets.

              "If people haven't invested in the region before, they probably perceive more risk than there actually is," said Adrian Mucalov, a director in the energy business at Actis, an emerging markets investor that has invested over $3.5 billion in Africa.

              BIGGEST CHALLENGE
              Fund managers say the biggest challenge may not in fact be raising capital, but finding investable projects.

              Public-private partnerships between government agencies and private companies are under-used, accounting for only 4.5 percent of African infrastructure projects by value between 2000 and 2014, McKinsey estimates.

              That compares with 8.6 percent for a group of emerging markets.

              But there are examples of sovereign funds stepping in.
               
              Angola's sovereign fund, FSDEA, has just committed $180 million to a new deep sea port project using a PPP structure.

              "PPPs are very difficult to carry out because you're talking about two different parties with two different views," FSDEA chairman Jose Filomeno dos Santos told Reuters.

              In early 2015, another sovereign fund, Senegal's FONSIS partnered with Meridiam, an infrastructure fund manager with some 5 billion euros ($5.37 billion) under management, to develop a solar farm.

              Meridiam, which raised 300 million euros for its Infrastructure Africa Fund in 2015, targets greenfield investments in transport, power generation and public buildings such as hospitals and universities via PPPs.

              Meridiam's Mathieu Peller, director, West Africa said governments needed to focus on a limited number of essential projects: "There is a huge pipeline of projects that are difficult for foreign investors to assess."

              Sovereign funds, meanwhile, are also trying to tap local pension fund capital. The long-term nature of infrastructure investments tends to be a good fit for pension funds which need a steady income stream to fund payments to retirees.

              Canada's pension funds provide a guide, having invested in everything from the Port of Melbourne to British high speed rail lines.

              And African pension pools are growing quickly – Nigeria's local pension market for instance is expanding by $5 billion a year – but they can be prevented from investing in domestic infrastructure bonds because of the issuer's weak credit rating.

              To address this, Nigeria's Sovereign Investment Authority (NSIA), has announced a tie-up with local currency guarantee firm GuarantCo to enhance the credit quality of Nigerian infrastructure bonds.
              Reuters
              22 March

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