Technology tops investment in Africa
Africaâ€™s share of global foreign direct investment (FDI) projects has reached the highest level in a decade, according to a new report.
South Africa is the leading region in terms of absolute numbers of FDI projects.
FDI flows to Africa grew by 6.8% in 2013 to reach US$5.3 billion, the highest since 2008, according to Ernst & Youngâ€™s 2014 Africa Attractiveness Survey.
Capital investments into Africa grew 12.9% in 2013, with a higher average project size of $70.1 million, from $60.1 million in 2012.
In 2013, Africaâ€™s share of global FDI projects reached 5.7%.
Technology, media and telecoms (TMT) accounted for 20% of FDI projects in Africa in 2013, up from 14% between 2003-07.
To read the full article go to www.businesstech.co.za