adminNigeria, the continent’s second-biggest economy after South Africa, retained the position for the second time despite FDI inflows into the country falling from US$8,9 billion in 2011 to US$7 billion last year.
South Africa was ranked next with total FDI inflows of US$5,81 billion while other African countries such as Ghana (US$3,22 billion), Congo (US$2,93 billion) and Algeria (US$2,57 billion) were also highly rated.
A breakdown of the report showed that FDI flows to African countries increased by 5 percent to US$50 billion in 2012, even as global FDI fell by 18 percent.
Unctad’s annual survey of investment trends revealed that global FDI fell by 18 percent to US$1,35 trillion. It is expected to increase to US$1,45 trillion in 2013 and eventually US$1,8 trillion in 2015.
Most of the FDIs into Africa were driven largely by the extractive industry but there was an increase in investments in consumer-oriented manufacturing and services, the report said.
“Developing countries take the lead in 2012 — for the first time ever — developing economies absorbed more FDI than developed countries, accounting for 52 percent of global FDI flows,” read the report.
“This is partly because the biggest fall in FDI inflows occurred in developed countries, which now account for only 42 percent of global flows.” — CAJ News.
Online Reporter