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Saudi Arabia pledges to invest R133bn in South African energy sector

President Cyril Ramaphosa’s ambitious plan to attract $100-billion to kick start the country’s struggling economy got a major boost on Thursday, when Saudi Arabia committed to invest $10-billion (about R133-billion) in the country. This is expected to be invested in the energy and power creation sectors. Ramaphosa was received by Saudi Arabian Minister of African Affairs Mahomed bin Adullah Al-Kattan, at the King Abdulaziz International Airport in the Kingdom of Saudi Arabia.

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