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FDI values in Africa hit five year high

Published on June 08, 2015

The 2015 Africa Attractiveness Survey conducted by Ernst and Young (EY) revealed that foreign direct investment (FDI) into Africa reached US$128bn, up 136 per cent in 2014.

The number of jobs created from FDI rose by 68 per cent in the same year, resulting in 188,400 new positions across Africa, according to the survey.

“In the past year, Africa has experienced stronger headwinds than in recent times. Consequently, economic growth this year is likely to be at its lowest in five years, dragged down by the impact of lower oil prices on the Nigerian and Angolan economies, the softening of other commodity prices, and South Africa’s sluggish growth,” said Ajen Sita, chief executive officer at EY Africa. Read more. Source | Tralac