LEAP 2026: Why Africa should be looking to Riyadh
In barely five years, Saudi Arabia's LEAP has grown from a new technology conference into one of the world's largest gatherings of technology companies, investors and policymakers. For Africa, the significance of what is happening in Riyadh extends well beyond the exhibition halls. A new pool of capital is taking shape on the other side of the Red Sea, and African markets need to decide how they…
LEAP 2026, held in Riyadh from 31 August to 3 September, showcased a growing technology conference-turned-capital movement. Initially established in 2020, Saudi Arabia's credentials as a global technology destination have solidified over five editions. LEAP 2026 attracted over 215,000 visitors, a record number of senior visitors, and witnessed a record-breaking $15bn in investments, agreements, and commitments across various sectors such as artificial intelligence, cloud infrastructure, data centers, technology manufacturing, and venture capital.
The conference's purpose extends beyond showcasing innovation to creating a marketplace where technology, government policy, and capital converge. This vision aligns with Vision 2030, Saudi Arabia's plan to diversify its economy away from hydrocarbons, with technology serving as a critical infrastructure component. Saudi Arabia's digital economy now contributes around 15.8% of its GDP, and the ICT market has reached approximately $53bn.
The expansion of the investor base is significant, with venture capital investors increasing from 34 in 2018 to 200 in 2025. The Kingdom retained its position as the largest venture capital market in the MENA region for the third consecutive year. At LEAP 2026, various announcements revealed Saudi Arabia's strategy to build a technology economy, including investments in data center capacity, a digital valley, and cloud infrastructure.
The geopolitical and economic rationale for Africa to engage with Saudi Arabia is compelling. Riyadh's proximity to several African capitals, longstanding diplomatic ties, and interest in various sectors such as fintech, logistics, healthcare, and renewable energy make it a potential pillar in Africa's technology ecosystem. African countries should broaden their focus from national pavilions at conferences like LEAP to develop more robust technology and venture capital relationships with Saudi Arabia and other Gulf nations.
Written by urgent.news from Africa Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
