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Saudi Arabia: Winners and losers emerge from reform programme

The economic reform programme driven by Crown Prince Mohammed Bin Salman (MBS) is gradually reshaping the Saudi economy. Analysts and other sources in the kingdom have told GSN that this is creating winners and losers along the way in both the banking sector – an important player in the forthcoming Saudi Arabian Oil Company (Aramco) initial public offering (IPO) – and among retailers. Local investment bank Al-Rajhi Capital has reported seeing a “structural shift” in the spending pattern of Saudis as a result of the MBS reforms, as consumers direct more of their discretionary spending towards entertainment and culture.

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African Energy Gulf States Newsletter