Qatar conglomerate announces $70bn for Southern Africa
Qatari conglomerate Al Mansour Holding has announced $70 billion in
investments across four southern African nations during a whirlwind 10-day
visit, a move analysts describe as strategic amid declining US funding for the
continent.
Leading the delegation, Sheikh Mansour bin Jabor
bin Jassim Al Thani — a member of Qatar’s royal family — signed financing
commitments in Botswana, Mozambique, Zambia, and Zimbabwe, targeting energy,
agriculture, tourism, and mining projects.
In Mozambique, a $20 billion partnership was
signed with President Daniel Chapo to bolster government initiatives in health,
education, and infrastructure, the presidency said.
Days earlier, in Zimbabwe, Al Mansour Holding
pledged $19 billion, including $500 million for a hydroelectric project,
according to the government.
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deepens its reach in Africa, from eastern DRC to RwandAir
Zambia announced a record $19 billion deal,
which local officials described as among the largest bilateral commitments in
its history, while Botswana secured $12 billion — a sum worth more than half
its GDP. President Duma Boko, who declared a public health emergency on August
25 over a shortage of medicines, hailed the deal as “just the beginning.”
Gulf capital as ‘geopolitical ballast’
The unprecedented pledges arrive as the region
struggles with sharp US aid cuts.
“Under President Donald Trump’s second term, US protectionism and reduced aid
flows are leaving African states scrambling for new partners,” said Brendon
Verster of Oxford Economics Africa. “Gulf investment offers both financial
relief and geopolitical ballast, strengthening Qatar’s influence while giving
Africa a hedge against Western retrenchment.”
The United Arab Emirates has also stepped up
its outreach, with Angola signing $6.5 billion worth of agreements during a
visit by President Sheikh Mohamed bin Zayed on August 25.
Still, the sheer scale of Qatar’s commitments
has raised eyebrows. “These are some of the largest pledges Africa has ever
seen and should be treated with caution,” said Johannesburg-based analyst
Marisa Lourenco. “While Gulf states see Africa as a key mining and energy
frontier, they are also eyeing long-term gas supply security.”
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growing footprint in Africa
Media reports suggest Sheikh Mansour’s African
tour could ultimately exceed $100 billion in promised investments.
Source: https://www.rfi.fr