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Favourable business environment draws foreign investors to region

Published on January 26, 2016

Foreign direct investments in East Africa increased last year, buoyed by the reduced cost of doing business and natural resource discoveries.

The region received more than half of new investments in sub-Saharan Africa in 2015, according to the World Bank’s Migration and Remittances Factbook 2016.

Last year, remittances to the EAC hit $3.054 billion, up from $2.9 billion in 2014. This was about 0.5 per cent of the global inflows of $601 billion, up from 0.4 per cent of $593.9 billion in 2014.

The region received 8.7 per cent of $34.8 billion invested in sub-Saharan Africa in 2015, up from 8.4 per cent of $34.5 billion the previous year. Read more. Source | East African