Cape Town, South Africa - Saudi Arabian Mining Company (MA’ADEN), Saudi Arabia’s national mining champion announces 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, a side of the African Mining Conference "Indaba 2022" taking place from 9 to 12 May 2022 in Cape Town, South Africa.
H.E. Bandar Alkhorayef, the Saudi Minister of Industry and Mineral Resources, H.E. Khalid Al-Mudaifer, Vice-Minister of Mining Affairs, Honorable ministers & excellencies representing various African countries, in addition to senior members of the mining sector, witnessed the announcement by MA'ADEN's CEO for the new office to better serve the growing African market.
In 2019, MA’ADEN strengthened its presence in the African market with the acquisition of Mauritius-based fertilizer distributor, Meridian Group, one of the largest fertilizer distributors in Africa.
As a result, today, MA’ADEN has a network of operations across Eastern and Southern Africa, from Malawi to Mozambique, Zimbabwe, and Zambia with 35-65% market share in the four countries. Beyond Meridian Group’s regional distribution operations, MA’ADEN’s fertilizer business currently has a direct market share of 48% in East and South Africa combined.
Robert Wilt, CEO of MA’ADEN, comments on the new office: “We are pleased to expand our international presence with a new regional office in South Africa. Today’s announcement reinforces our commitment to the African agriculture market, as it is a strategic growth area for our fertilizer business, and part of our long-term value creation plan to grow MA’ADEN into one of the top miners in the world.
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,