Foreign direct investment (FDI) into Africa showed a strong rebound in growth of 147 percent to an estimated $97 billion compared with $39 billion in 2020.
The United Nations Conference on Trade and Development (UNCTAD) said this in its investment trends monitor report released on Tuesday.
According to the report, the total for the region more than doubled, inflated by a single intra-firm financial transaction in South Africa in the second half of 2021.
The report added that FDI to South Africa jumped to $41 billion (from $3 billion in 2020) due to the $46 billion share swap between the South African multinational Naspers and its Dutch-listed investment unit.
Globally, FDI flows also showed a strong rebound in 2021 with a growth of 77 percent to an estimated $1.65 trillion, compared with $929-billion in 2020.
– The Cable