Angola is seventh-biggest destination for foreign investment in Africa

29 May 2013

Angola was the seventh-largest destination for foreign direct investment (FDI) in Africa and the third largest destination in sub-Saharan Africa, according to a report from the Ernst & Young consultancy analysing capital flows into Africa since 2003.

Cited by Angolan newspaper O País, the report showed that Angola had attracted 5.2 percent of all FDI in Africa, and the top seven countries – South Africa, Egypt, Morocco, Nigeria, Tunisia, Algeria and Angola – attracted a total of 60 percent of the continent’s FDI.

By focusing the analysis on 2011 and 2012, Angola was ranked in ninth place ahead of Mozambique and overtaken by Kenya and Ghana, in the top ten Africa countries for FDI.

According to the study, this may be due to a tailing off of investment in Angola following massive foreign investment after the peace process in 2002 and to the criteria used to measure FDI, which excludes mergers and acquisitions, and partnerships.

Foreign direct investment fell back in 2012 following growth the previous year, which means that, according to the authors of the report, that investors have a continued perception of constraints on investment in Africa.

In the period the United States was the biggest of the top 20 investors in Africa, followed by the United Kingdom, France, India, South Africa, the United Arab Emirates, Spain, Germany, China and Portugal. (macauhub)