The largest share of Foreign Direct Investments (FDI) in the African continent is being received by South Africa, rising more than five-fold from US$1.25 billion in 2010 to US$6.7bn in 2012, revealed a report issued by the United Nations Conference on Trade and Development (UNCTD).
The UNCTD report was published ahead of the fifth Brazil, Russia, India, China and South Africa (BRICS) summit to be held in Durban, South Africa, at the end of March 2013.
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The UNCTD report shows that FDI in South Africa grew more than 10.3% in 2012, while it fell at double-digit rates in developed countries such as Australia, Germany or the US.
UNCTD found that FDI going into Brazil, Russia, India and South Africa has more than tripled since 2000 and it totaled at US$275 billion in 2012.
Investment from BRIC countries into other countries has also increased from US$5.9 billion in 2000 to US$111 billion in 2012, and it now accounts for 9% of the world flows.
South Africa is Africa’s major and most developed economy, and it became part of the BRIC political grouping in 2011.
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