The African continent recorded a total Foreign Direct Investment (FDI) of $38 billion in 2020, representing a drop of 18 per cent from $46 billion recorded in 2019.
Data obtained from the United Nations Trade Association (UNCTAD)’s investment trend monitor showed that Egypt continued to become the top destination for FDI in Africa despite the total inflow of $5.5 billion representing a whopping 38 per cent drop.
Nigeria on its own part attracted a total FDI of $2.6 billion in 2020 down from the $3.3 billion it attracted a year earlier while South Africa, a major competitor for FDI inflows in sub-Saharan Africa attracted less with $2.5 billion…
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