Top 10 African countries with the largest foreign investments

Business Insider Africa presents the top 10 African countries with the largest foreign investments.
This list is courtesy of UNCTAD’s World Investment Report 2023 published on 5 July.
The reports show that Greenfield project announcements increased by 39% to a total of 766.

Africa, often referred to as the "next frontier" for economic growth and development, is gradually becoming a hotspot for Foreign Direct Investments (FDIs). This continent, rich in natural resources, youthful demographics, and untapped markets, is attracting a growing number of international investors.

However, according to a report put out by the United Nations Conference on Trade and Development (UNCTAD), on the 5th of July 2023, titled, ”World Investment Report 2023” Africa has experienced a steep decline in the value of FDIs intended for the emerging continent.

The report shows that foreign direct investment (FDI) flows to Africa decreased from a record $80 billion in 2021 to $45 billion in 2022. They represented 3.5% of all FDI worldwide.

For context, see the massive difference in FDI figures for the 2021, compared to the figures listed below.

Greenfield project announcements increased by 39% to a total of 766. Africa was home to six of the top 15 greenfield mega projects (those costing more than $10 billion) that were announced in 2022.

The report also notes that the deficit has increased from $2.5 trillion in 2015, when the SDGs were established, to around $4 trillion annually.

A quick rundown on the report shows that In North Africa, Egypt saw FDI more than double to $11 billion as a result of increased cross-border merger and acquisition (M&A) sales. Nigeria saw FDI flows turn negative to -$187 million as a result of equity divestments. FDI flows to Ghana fell by 39%.

In East Africa, flows to Ethiopia decreased by 14%, and the country remained the second-largest FDI recipient in the sub-Saharan region. FDI to Uganda grew by 39%. To be more specific with figures below are 10 African countries with the highest foreign direct investment in 2022.

PS: This list contains only countries mentioned in the report.

Rank	Country	FDI
1.	Egypt	$11 billion
2.	South Africa	$9 billion
3.	Ethiopia	$3.7 billion
4.	Senegal	$2.6 billion
5.	Morocco	$2.1 billion
6.	Democratic Republic of Congo	$1.8 billion
7.	Ghana	$1.5 billion
8.	Uganda	$1.5 billion
9.	Tanzania	$.1.1 billion
10.	Zambia	$116 million