NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, March 22, 2005

Usually, when investors look around for someplace to put their money, Africa is practically invisible. But at a time of uncertainty in global financial and capital markets — and with natural resources such as oil in high demand — a few are starting to give more than a passing glance in Africa’s direction. In fact, inflows of foreign direct investment (FDI) to African countries increased in 2003 by 28 per cent from the year before, from $12 bn to $15 bn. This put Africa in the uncustomary position of registering the highest growth rate for foreign investment of any region in the world, developing and developed alike, reports the UN Conference on Trade and Development (UNCTAD). The 2004 edition of the agency’s annual World Investment Report, released in September, predicts that FDI flows to Africa will increase even further in 2004.” Full story available here.