Riyaz Patel
A new UN report says foreign direct Investment (FDI) flows to Africa rose by 3% to $49-billion, with South Africa consolidating the recovery it recorded in 2018, when inflows more than doubled from $2-billion to $5.3-billion.
The United Nations Conference on Trade and Development’s (UNCTAD) latest Global Investment Trends Monitor, said South Africa recorded inflows of $5-billion last year, while Egypt remained the continent’s largest FDI recipient, with inflows of $8.5-billion.
Investments into Africa’s largest economy, Nigeria, surged by 71% to $3.4-billion.
The report states that, in addition to intra-company transfers by investors, investment into South Africa was led by mergers and acquisitions in business services and petroleum refining.
FDI to Southern Africa as a whole increased by 37% to $5.5-billion mainly as a result of a slowdown in net divestment from Angola.
FDI flows to East Africa remained steady at $8.8-billion, but flows to Ethiopia, Africa’s fastest-growing
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