SA attracts R72bn investment in 2019
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.