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Sunday, 23 October 2016

Egypt was Africa’s top destination for FDI in 2015

Speaking of FDI: Egypt was Africa’s number-one destination for foreign direct investment last year, according to the Africa Investment Report 2016(pdf, no paywall) released last week by the Financial Times’ This is Africa / fDi Intelligence. Among the takeaways from the graphic-heavy report: Egypt was the continent’s top destination for FDI again in 2015 with USD 14.5 bn in announced projects, but mirroring the trend across the continent, that figure is down 19% year-on-year. Nigeria was second with USD 8.6 bn in pledged investment, followed by Mozambique at USD 5.1 bn. Egypt was fourth by “number of projects announced.” The coal, oil and natural gas sectors were, collectively, the top sector for capital investment last year, the study found, accounting for 24% or USD 15.7 bn of FDI in Africa.

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