Foreign Direct Investment in Africa Decreases by 3% in 2023, According to UNCTAD Report
The "World Investment Report 2024" published by the United Nations Conference on Trade and Development (UNCTAD) indicates that foreign direct investment (FDI) in Africa decreased by 3% in 2023, amounting to less than $53 billion.
Here is the top 10 of African countries that attracted the most FDI in 2023:
- Egypt: $9.84 billion, despite a decline in mergers and acquisitions compared to 2022.
- South Africa: $5.23 billion.
- Ethiopia: $3.26 billion.
- Uganda: $2.88 billion.
- Senegal: $2.64 billion.
- Mozambique: $2.50 billion.
- Namibia: $2.34 billion.
- Nigeria: $1.87 billion.
- Côte d'Ivoire: $1.75 billion.
It is worth noting that UNCTAD forecasts challenging prospects for FDI in 2024, but anticipates modest growth thanks to the easing of financial conditions and investment facilitation efforts.
The main countries investing in Africa are the Netherlands, France, the United States, the United Kingdom, and China.