A survey by Ernst&Young (EY) shows that while key economies in sub-Sahara Africa received fewer foreign direct investment (FDI) projects, the average value of each project across the region almost doubled in 2014.
The survey notes key economies in the region like South Africa, Angola, Nigeria, Ghana and Kenya as having received fewer FDI projects than in 2013, however it states that the average value of each project across the region almost doubled from $67.8 million in 2013 to $174.5 million per project in 2014
According to the survey, Mozambique’s went up 88.2% and Ethiopia’s 47.1%, and these two countries were among the star performers, attracting growing inflows of projects.
“Over the longer term, South Africa has been the most popular destination for FDI projects, attracting twice as many projects over the past five years than any other African country,” the survey says.
By Emmanuel K. Dogbevi