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Topnews, International relations, South Africa

03. July 2014

SOUTH AFRICA FIRST IN AFRICA FOR INVESTMENT

The report showed that foreign direct investment (FDI) inflows to South Africa jumped from US$4,5 billion in 2012 to a record-high $8,1 billion in 2013, with investments in infrastructure being the main attraction.

South Africa was Africa's best FDI performer in 2013, topping the charts for both inflows and outflows of FDI and leading the trend towards increasing intra-African investment, according to the United Nations Conference on Trade and Development's (Unctad's) latest World Investment Report.

This put South Africa on top of the table for FDI inflows into Africa, followed by neighbouring Mozambique, Nigeria, Egypt and Morocco.

At the same time, South Africa's FDI's outflows almost doubled, from $2,9 billion in 2012 to $5,6 billion in 2013, powered by investments in telecommunications, mining and retail. Angola was Africa's next-biggest investor, followed by Nigeria, Sudan and Liberia.

In all cases, Unctad's report found outward investment flows were directed mostly to other countries on the continent, paving the way for investment-driven regional integration.

The report noted that South African companies such as Bidvest, AngloGold Ashanti, MTN, Shoprite, Pick n Pay, Aspen Pharmacare and Naspers, along with companies from other countries – including Algeria, Egypt, Kenya and Nigeria – were upgrading their cross-border operations first in neighbouring countries and then more widely across the continent. – Source: www.southafrica.info

Read more: http://www.dirco.gov.za/dircoenewsletter/newsflash121-03-07-2014.html

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