Thursday, May 15, 2014Tweet
[IWS] EY: AFRICA 2014: EXECUTING GROWTH:EY's ATTRACTIVENESS SURVEY [15 May 2014]
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Ernst & Yound (EY)
EY's ATTRACTIVENESS SURVEY: AFRICA 2014: EXECUTING GROWTH [15 May 2014]
[full-text, 104 pages]
Press Release 15 May 2014
Foreign direct investment in Sub Saharan Africa on the rise
The report combines an analysis of international investment into Africa since 2003, with a 2014 survey of over 500 global business leaders about their views on the potential of the African market. The latest data shows that while there has been a decline in FDI project numbers from 774 in 2012 to 750 in 2013, primarily due to ongoing uncertainty in North Africa, they remain easily in excess of the pre-crisis average of 390 projects per year.
There is a noticeable divide between FDI trends in North Africa versus Sub Saharan Africa (SSA). While FDI projects in North Africa declined by nearly 30%, projects in SSA increased by 4.7%, reversing the decline of 2012. This further widened the gap between the two sub regions, with SSA’s share of FDI projects exceeding 80% for the first time.
While the UK remains the lead investor into the continent, intra-African investment continues to steadily rise. Investors are also looking beyond the more established markets of South Africa, Nigeria and Kenya to expand their operations, as well as moving into more consumer-related sectors as Africa’s middle class expands.
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