Business
Africa continues to attract growing share of global foreign direct investment
Thursday, May 3, 2012
Africa received its largest ever share of global foreign direct investment (FDI) last year, an Ernst and Young survey has said.
FDI projects grew by 27 percent in 2011, pushing Africa’s share of the world’s investment to almost a quarter.
FDI inflows, now about US$80 billion, should reach US $150 billion by 2015, according to the global consultants.
But potential investors still see Africa as “the least attractive” destination, the report finds.
Investment is close to levels last seen before the financial crisis, the firm said in its 2012 Africa Attractiveness Survey.
There have been significant inflows into the manufacturing, infrastructure-related and services sectors.
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