SA, not China, Africa's biggest investor: study | DefenceWeb

South Africa, not China, was the biggest emerging market investor in Africa between 2006 and 2008 with US$2.6 billion (R19.3 billion) in average annual foreign direct investment (FDI) flows, the 2010 World Investment Report says.

The research, undertaken by the UN Conference on Trade and Development (UNCTAD), however shows China is among the most active investors in Africa, but developed countries still account for most FDI into the continent. It also shows developed nations accounted for by far the bulk of estimated inward FDI flows into Africa, contributing 72% of inflows between 2000 and 2008, and 92% of inward stock in 2008.

"The notion that Chinese investment is somehow the dominant foreign investment in Africa is quite misleading," said Stephen Gelb, a professor of development economics at the University of Johannesburg and a contributor to the report. "China is far from being the dominant investor. But it is growing faster from a low base." China invested $2.5 billion in Africa between 2006 and 2008, a fraction of its overall investment outflow, the Business Report says.

via defenceweb.co.za

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