From Business Day, South Africa
Africa appears to have made its way back onto a growth trajectory with foreign direct investment (FDI) inflows to the continent expected to increase by 15% in 2019, after a rise of 11% to $46bn in 2018.
As encouraging as the signs are, inflows are still below the annual average of the past 10 years of about $50m, but confidence is returning and that level could be regained by year end.
This is partly thanks to advances in regional integration and progress towards the implementation of the African Continental Free Trade Agreement (AfCFTA).
It is also being driven by Africa’s vast demand for business services, agribusiness, infrastructure, as well as information and communications technology (ICT), as the digital economy becomes a significant growth driver. Inflows into once all-important extractive industries, while still significant, continue to fade. Read more …