By Redaction ARPS Media with UNCTAD
The 2024 ‘World Investment Report’ from UNCTAD shows that foreign direct investment (FDI) in Africa has increased by 75%, reaching $97 billion. This rise is mainly due to a major urban project in Egypt.
Overall, FDI in Africa grew by 12% to about $62 billion. European investors hold the largest share of FDI, followed by those from the US and China. The most significant investment growth occurred in North Africa, especially in Egypt, Tunisia, and Morocco.
International project finance deals increased by 15%, primarily in the energy and transportation sectors, while new investments in greenfield projects declined. Globally, FDI decreased by 11%, with developed countries experiencing a 22% decline, particularly in Europe, where a 58% decline was observed.
In contrast, North America saw a 23% increase in FDI, driven by growth in the US. The report advocates for reforms that align investment practices with the needs of sustainable economic growth.
Read original report at: Africa: Foreign investment hit record high in 2024 | UN Trade and Development (UNCTAD)
