African Foreign Direct Investment (FDI) in 2019
A report by fDi Intelligence shows that there were 998 projects financed by foreign direct investment (FDI) in Africa last year. Egypt, South Africa, and Morocco were responsible for the greatest share, with Egypt (136 projects in 2019) replacing South Africa as the 1st ranked destination for FDI projects on the continent. Egypt enjoyed a $12bn IMF-mandated reform programme and its government has embarked on massive infrastructure spending in sectors ranging from energy to construction. On the other hand, South Africa invested in 81 projects outside its own territory last year compared to just 29 from Morocco. Morocco had 102 projects financed by FDI last year, making it the 3rd largest on the continent. Other countries with large numbers of externally financed projects include Kenya (87), Nigeria (73), and Ghana (42). Nigeria and Ghana each attracted more FDI by capital investment than South Africa, but the investments were spread among fewer projects. Egypt topped the list both in terms of the number of projects and amount invested. Ghana entered the top 10 destinations by the number of FDI projects in the Middle East and Africa.
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