The continent of Africa witnessed some of the highest foreign direct investment growth numbers in global comparison between years 2018 and 2019. This, many analysts argue is partly due to The African Continental Free Trade Area (AfCFTA) agreement signed by 52 countries. In 2018, the continent received over $45 Billion in FDI, a 10% increase from the prior year. As of 2012, Nigeria was a top 3 largest recipient of FDI in Africa but this has since changed since the recession that engulfed the nation in 2015. As of 2019, 6 other countries in Africa namely Congo, Ethiopia, Morocco, Angola, Ghana and South Africa, are receiving significantly more FDI than Nigeria. Which countries mentioned above are top 3 recipients of Foreign Direct Investments?
Top 3 African Countries Receiving The Largest Foreign Direct Investments 2020:
- Egypt – Over 6.5 Billion US Dollars per annum.
- South Africa – Over 5 Billion US Dollars per annum. Notable financial flows into the Automotive and Renewable Energy sectors.
- Congo – Over 4 Billion US Dollars per annum.
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