Foreign investment in Africa on rise

Global executives expect that new projects in Africa will enjoy strong growth from next year, with inflows of foreign direct investment forecast to reach US$150-billion by 2015, according to a survey of 562 global executives.

Foreign direct investment was just more than US$200-billion in 2008, but had dropped significantly to less than half of that in 2011.

However, the first Africa Attractiveness Survey by Ernst & Young, released on Tuesday, predicts that, over the next five years, the average economy will outpace its Asian counterpart, in line with the capital investment growth forecast.

Ernst & Young analysis of foreign direct investment projects shows that, over the past decade, Africa has witnessed an increase in inward foreign direct investment from 338 new projects in 2003 to 633 in 2010 (an increase of 87%). Despite a drop in investment in the past couple of years following a peak in 2008, Africa has remained an attractive investment destination throughout the global downturn and has managed to maintain its relative share of global investment flows as a result.

When it comes to investment strategies, the survey shows Africa is high on the agenda of global investors, with 42% of the businesses surveyed considering investing further in the region and an additional 19% of executives confirming they will maintain their operations on the continent. Those companies that have invested and already integrated Africa into their overall investment strategy are particularly positive.

Ernst & Young says that, over the past year, more than 100 companies have engaged with them on their African growth strategies. — I-Net Bridge

Advertisting

Workers fight job-creation ‘mess’

Former Ekurhuleni workers argued in court that a programme promising to equip them with skills simply acted as a labour broker for the municipality

Court dissolves local municipality

Landmark judgment paves the way for South Africans to use legal system to hold councils responsible

Mabuza’s ‘distant relative’ scored big

Eskom’s woes are often because of boiler problems at its power plants. R50-billion has been set aside to fix them, but some of the contracts are going to questionable entities

ANC faction gunning for Gordhan

The ambush will take place at an NEC meeting about Eskom. But the real target is Cyril Ramaphosa
Advertising

Press Releases

New-style star accretion bursts dazzle astronomers

Associate Professor James O Chibueze and Dr SP van den Heever are part of an international team of astronomers studying the G358-MM1 high-mass protostar.

2020 risk outlook: Use GRC to build resilience

GRC activities can be used profitably to develop an integrated risk picture and response, says ContinuitySA.

MTN voted best mobile network

An independent report found MTN to be the best mobile network in SA in the fourth quarter of 2019.

Is your tertiary institution is accredited?

Rosebank College is an educational brand of The Independent Institute of Education, which is registered with the Department of Higher Education and Training.

Is your tertiary institution accredited?

Rosebank College is an educational brand of The Independent Institute of Education, which is registered with the Department of Higher Education and Training.

VUT chancellor, Dr Xolani Mkhwanazi, dies

The university conferred the degree of Doctor of Science Honoris Causa on Dr Xolani Mkhwanazi for his outstanding leadership contributions to maths and science education development.

Innovate4AMR now in second year

SA's Team pill-Alert aims to tackle antimicrobial resistance by implementing their strategic intervention that ensures patients comply with treatment.

Medical students present solution in Geneva

Kapil Narain and Mohamed Hoosen Suleman were selected to present their strategic intervention to tackle antimicrobial resistance to an international panel of experts.