South Africans are losing trust in the state
Foreign direct investment (FDI) into South Africa remained stable at just over $5 billion (around R72 billion) in 2019, according to a United Nations Conference on Trade and Development (Unctad) report released this week.
While the FDI data showed a slight decline in inflows in 2019 compared to FDI of some R5.3 billion in 2018, Switzerland-based Unctad described the investment as a consolidation. This is because SA saw FDI more than doubling in 2018 from a low of around $2 billion in 2017 towards the end of Jacob Zuma’s presidency.
“South Africa consolidated last year’s recovery with inflows remaining almost constant at a little more than $5 billion. In addition to intra-company transfers by existing investors, investment to the country was led by M&A [merger and acquistion] deals in business services and petroleum refining,” the UN agency noted in its report.
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