Saudi Arabian Mining Co. (Ma’aden), Riyadh, has announced the opening of a new regional office in South Africa.
The announcement was made during the Saudi Night event, organized by the Saudi Ministry of Industry and Mineral Resources and sponsored by Ma’aden, at the African Mining Conference “Indaba 2022” held on May 9-12 in Cape Town, the Saudi Press Agency (SPA) reported.
Ma’aden strengthened its presence in the African market in 2019 with the acquisition of Mauritius-based fertilizer distributor Meridian Group, one of the largest fertilizer distributors in Africa (GM Sept. 6, 2019).
As a result, Ma’aden said today it has a network of operations across Eastern and Southern Africa, from Malawi to Mozambique, Zimbabwe, and Zambia, with a 35-65% market share in the four countries. Beyond Meridian Group’s regional distribution operations, the Saudi company’s fertilizer business currently has a direct market share of 48% in East and South Africa combined, it said.
“Africa is one of the world’s fastest growing agricultural regions and will generate approximately 30% of global demand for phosphate fertilizers over the next decade. Most of this demand will come from East and South Africa,” said Ma’aden CEO Robert Wilt.