SA at­tracts R72bn in­vest­ment in 2019

The Citizen (KZN) - - Business - Suren Naidoo Money­web

For­eign di­rect in­vest­ment (FDI) into SA re­mained sta­ble at just over $5 bil­lion (about R72 bil­lion) in 2019, ac­cord­ing to a United Na­tions Con­fer­ence on Trade and Devel­op­ment re­port re­leased this week.

While the FDI data showed a slight de­cline in in­flows in 2019 com­pared to some R5.3 bil­lion in 2018, the re­port de­scribed the in­vest­ment as a con­sol­i­da­tion.

This is be­cause SA saw FDI more than dou­ble in 2018 from a low of around $2 bil­lion in 2017.

“South Africa con­sol­i­dated last year’s re­cov­ery with in­flows re­main­ing al­most con­stant at a lit­tle more than $5 bil­lion. In ad­di­tion to in­tra-com­pany trans­fers by ex­ist­ing in­vestors, in­vest­ment to the coun­try was led by M&A [merger and ac­qui­si­tion] deals in busi­ness ser­vices and pe­tro­leum re­fin­ing,” the re­port noted.

Egypt was again ahead of SA as the largest FDI re­cip­i­ent on the con­ti­nent and showed a 5% in­crease in in­flows to $8.5 bil­lion.

Over­all Africa saw a 3% in­crease in FDI.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.