Angola is seventh-biggest destination for foreign investment in Africa in 2015

25 October 2016

Angola was the seventh-biggest destination for foreign direct investment (FDI) in Africa in 2015, according to the Africa Investment Report 2016 published by the Financial Times.

Angola attracted foreign investment projects worth US$2.7 billion in 2015, absorbing 4% of the total funds invested in Africa.

The biggest foreign investor in Angola was French oil company Total E&P, with US$2.2 billion, which became the third biggest foreign investor in the whole of Africa.

After Egypt (US$14.5 billion) came Nigeria (US$8.6 billion), Mozambique (US$5.1 billion), South Africa (US$4.7 billion), Morocco (US$4.5 billion), Ivory Coast (US$3.5 billion) and Angola (US$2.7 billion).

The study showed that 495 companies invested in Africa, an increase of 6 % compared to 2014. Although investments have diversified the extractive industries still topped the list of FDI, accounting for 23% of total foreign direct investment.

The biggest number of projects was focused on South Africa, which attracted 118 investment projects, or 17% of the total by number.

This was followed by Kenya (12% of projects), Morocco (10%), Egypt (8%), Nigeria (7%), Ghana (6%), Mozambique (4%), Ethiopia (4%), Ivory Coast (4%), Tanzania (3%) and Uganda (3%). (macauhub)