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FDI grows to USD 35b in Sub-Saharan Africa due to bauxite mining
Edited by : AL CIRCLE
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Renaissance Capital, a global investment firm, stated that last year, Foreign Direct Investment (FDI) in Sub-Saharan Africa surged to a record of USD35 billion, reported Xinhua News.
The company said that half of the amount was made in Ghana, Nigeria and South Africa, adding that FDI to West Africa reached USD16.1 billion, representing a surge of 36 percent from a year earlier, and capturing 46 percent of the whole FDI inflow.
The investments were made in several industries and sectors, including construction, electric, gas and water resource development, and service sectors of transportation, storage and communication.
It is worth noting that the growth in the Sub-Sahara region is forecasted to carry on due to the USD6 billion investment made by China Power Investment Corporation in the bauxite and alumina mining projects in the area.
The company said that half of the amount was made in Ghana, Nigeria and South Africa, adding that FDI to West Africa reached USD16.1 billion, representing a surge of 36 percent from a year earlier, and capturing 46 percent of the whole FDI inflow.
The investments were made in several industries and sectors, including construction, electric, gas and water resource development, and service sectors of transportation, storage and communication.
It is worth noting that the growth in the Sub-Sahara region is forecasted to carry on due to the USD6 billion investment made by China Power Investment Corporation in the bauxite and alumina mining projects in the area.
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