Africa-Press – Sierra-Leone. <\/strong><\/span>UNCTAD\u2019s World Investment Report 2023 published on 5 July showed that Egypt saw foreign direct investment (FDI) more than double to $11bn as a result of increased cross-border merger and acquisition (M&A) sales. However, FDI flows to Africa declined to $45bn in 2022 from the record $80bn set in 2021. They accounted for 3.5% of global FDI.<\/p>\nThe number of greenfield project announcements rose by 39% to 766. Six of the top 15 greenfield investment megaprojects (those worth more than $10 billion) announced in 2022 were in Africa.<\/p>\n
Announced greenfield projects more than doubled in number, to 161. International project finance deals rose in value by two-thirds, to $24bn billion. Flows to Morocco decreased slightly, by 6%, to $2.1bn.<\/p>\n
In West Africa, Nigeria saw FDI flows turn negative to -$187m as a result of equity divestments. Announced greenfield projects, however, rose by 24% to $2bn. Flows to Senegal remained flat at $2.6bn. FDI flows to Ghana fell by 39% to $1.5bn.<\/p>\n
In East Africa, flows to Ethiopia decreased by 14% to $3.7bn; the country remained the second largest FDI recipient on the continent. FDI to Uganda grew by 39% to $1.5bn on investment in extractive industries. FDI to Tanzania increased by 8% to $1.1bn.<\/p>\n
In Central Africa, FDI in the Democratic Republic of the Congo remained flat at $1.8bn, with investment sustained by flows to offshore oil fields and mining.<\/p>\n
In Southern Africa, flows returned to prior levels after the anomalous peak in 2021 caused by a large corporate reconfiguration in South Africa. FDI in South Africa was $9bn \u2013 well below the 2021 level but double the average of the last decade. Cross-border M&A sales in the country reached $4.8bn from $280m in 2021. In Zambia, after two years of negative values, FDI rose to $116m.<\/p>\n
Four regional economic groupings see growth<\/p>\n
Over the past five years, FDI inflows have risen in four of the regional economic groupings on the continent.<\/p>\n
FDI in the Common Market for Eastern and Southern Africa grew by 14% to $22bn. Flows rose also in the Southern African Development Community (quadrupling, to $10bn), the West African Economic and Monetary Union (doubling, to $5.2bn) and the East African Community (up 9%, to $3.8bn).<\/p>\n
Intraregional investment remained relatively small, despite an increase over the past five years. In 2022, intraregional greenfield project announcements represented 15% of all projects in Africa (2% in terms of value), as compared with 13% (2% in value) in 2017.<\/p>\n
However, looking at announced projects invested in by only African multinational enterprises, three-quarters of their value remained on the continent.<\/p>\n
In 2022, the biggest increase in announced greenfield projects was in energy and gas supply to $120bn from $24bn in 2021. Project values in construction and extractive industries also rose, to $24bn and $21bn, respectively. The information and communication sector registered the highest number of projects.<\/p>\n
International project finance deals targeting Africa showed a decline of 47% in value to $74bn, down from $140bn in 2021, but a 15% increase in project numbers, to 157.<\/p>\n
European investors remain, by far, the largest holders of FDI stock in Africa, led by the United Kingdom with $60bn, France with $54bn, and the Netherlands with $54bn.<\/p>\n
For More News And Analysis About Sierra-Leone<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Shaimaa Raafat Africa-Press – Sierra-Leone. UNCTAD\u2019s World Investment Report 2023 published on 5 July showed that Egypt saw foreign direct investment (FDI) more than double to $11bn as a result of increased cross-border merger and acquisition (M&A) sales. However, FDI flows to Africa declined to $45bn in 2022 from the record $80bn set in 2021. […]<\/p>\n","protected":false},"author":84,"featured_media":19733,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[291,293,292],"class_list":["post-19734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\n
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