Home Business Covid keeps investors shy as Africa foreign investments decline 18pc

Covid keeps investors shy as Africa foreign investments decline 18pc

By
The East African Business Mirror
-
1207
204
Nairobi Expressway currently under construction. PHOTO | KeNHA

Investors were forced to hold onto their cash last year due to uncertainties imposed by the COVID-19 pandemic which devastated big economies in Africa resulting in a decline in Foreign Direct Investments.

Investment Trends Monitor published by the United Nations Conference on Trade and Development (UNCTAD) shows that in 2020, Foreign Direct Investment (FDI) flows to Africa declined by 18%, to $38 billion dollars from $46 billion dollars recorded in 2019.

While 2020 statistics for East Africa’s biggest economy, Kenya, were not readily available, inflows to the country are expected to decrease further as a result of health protocols imposed last year which meant fewer new projects were announced and work commenced while others went into a freeze.

 

FDI inflows to Kenya decreased by 18% in 2019 to stand at Kshs. 143 billion ($1.3 billion) from an estimated Kshs. 176 billion ($1.6 billion) in 2018.

Announcement of new developments otherwise known as Greenfield projects fell to $28 billion, from $77 billion in 2019.

“The pandemic’s negative impact on FDI was amplified by low prices and low demand for commodities,” said the report.

In sub-Saharan Africa, flows declined by 11% to an estimated $28 billion.

Nigeria saw its inflows decrease by $700 million as Africa’s largest economy reported investments amounting to $2.6 billion compared to 2019.

Foreign investments in Nigeria were mainly hampered by lower crude oil prices, closure of oil development sites as the country activated movement restrictions in an effort to contain coronavirus.

South Africa on the other hand lost half of the inflows as FDI reduced to $2.5 billion compared to $4.6 billion registered in 2019 though $140 million Google investment in fibre optic marine cable and another $360 million by Pepsico to expand capacity of Pioneer Foods signaled lifted investment environment.

The report further indicates that Egypt which receives the largest share of investments in Africa saw Its FDI shrink 39% to an estimated $5.5 billion as North Africa flows also fell by 32% to $9.4 billion from $14 billion the previous year.

RELATED ARTICLESMORE FROM AUTHOR

204 COMMENTS

  1. Howdy terrific website! Does running a blog similar to
    this require a lot of work? I’ve no expertise in computer programming however I had been hoping to
    start my own blog soon. Anyway, if you have any ideas or
    techniques for new blog owners please share. I understand this is off subject
    however I just had to ask. Thank you!

  2. Greetings! I’ve been following your weblog for a long time now and finally got the courage to go ahead and give you a shout out from Houston Tx!

    Just wanted to tell you keep up the fantastic job!

  4. Excellent blog here! Also your website loads up very fast!
    What host are you using? Can I get your affiliate link to
    your host? I wish my website loaded up as quickly as yours lol

  6. I really like your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you?

    Plz reply as I’m looking to design my own blog and would like to find out where u got this from.
    cheers

  7. whoah this blog is excellent i really like reading your articles.
    Stay up the great work! You know, lots of persons are looking
    around for this info, you can aid them greatly.

  10. I loved as much as you’ll receive carried out right here. The sketch
    is attractive, your authored material stylish. nonetheless, you command get got an shakiness over that you wish be delivering the following.
    unwell unquestionably come more formerly again since exactly the same nearly a lot often inside case you shield this increase.

  12. I just like the helpful information you provide in your articles.
    I will bookmark your weblog and take a look at once more here regularly.
    I’m somewhat sure I’ll be informed plenty of new stuff right here!
    Best of luck for the following!

  13. I do not even know how I ended up here, but I thought this post was good.
    I do not know who you are but certainly you are going to a famous blogger if you
    are not already 😉 Cheers!

  15. Hello there! This is my first visit to your blog! We are a collection of volunteers and starting a new project in a community in the
    same niche. Your blog provided us useful information to work on. You
    have done a marvellous job!

  17. Hello there! I know this is somewhat off topic but I was wondering which blog platform are you using for this site?

    I’m getting sick and tired of WordPress because I’ve had
    issues with hackers and I’m looking at alternatives for another
    platform. I would be awesome if you could point
    me in the direction of a good platform.

  19. Hey! Do you know if they make any plugins to help with SEO?
    I’m trying to get my blog to rank for some targeted keywords but
    I’m not seeing very good results. If you know of any please share.
    Many thanks!

  20. magnificent post, very informative. I ponder why the
    opposite specialists of this sector do not understand this.
    You should proceed your writing. I am sure,
    you have a great readers’ base already!

  22. Do you mind if I quote a few of your posts as long as I provide credit and sources back
    to your site? My website is in the exact same niche as yours
    and my visitors would definitely benefit from a lot of the information you provide here.
    Please let me know if this ok with you. Thanks!

  23. excellent put up, very informative. I wonder why the opposite specialists of this sector do not realize this.
    You should continue your writing. I am confident, you have a great readers’ base already!

  27. Unquestionably believe that which you stated. Your favorite justification seemed
    to be on the internet the simplest thing to be aware of.
    I say to you, I definitely get irked while people consider worries that they plainly do not know about.
    You managed to hit the nail upon the top and also defined
    out the whole thing without having side-effects , people can take a signal.

    Will likely be back to get more. Thanks

  28. Aw, this was a very nice post. Spending some time and actual
    effort to produce a very good article… but what can I
    say… I hesitate a lot and never seem to get anything done.

  29. When I originally commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment
    is added I get several e-mails with the same comment.
    Is there any way you can remove me from that service?

    Thanks a lot!

  31. Great beat ! I would like to apprentice even as you amend
    your web site, how could i subscribe for a blog web site?
    The account helped me a appropriate deal. I had been a little bit familiar of this your broadcast provided brilliant transparent concept

  40. hey there and thank you for your info – I have
    definitely picked up something new from right here. I did however expertise a few technical issues using this web site, since I
    experienced to reload the web site many times previous to I could get it to load properly.

    I had been wondering if your hosting is OK? Not that I’m complaining,
    but slow loading instances times will often affect your placement in google and could damage your quality score if
    ads and marketing with Adwords. Well I am adding this RSS to my e-mail and could
    look out for much more of your respective fascinating content.
    Make sure you update this again very soon. games ps4 185413490784 games ps4

  41. This design is wicked! You certainly know how to
    keep a reader amused. Between your wit and your videos, I was
    almost moved to start my own blog (well, almost…HaHa!) Wonderful job.
    I really loved what you had to say, and more than that, how you
    presented it. Too cool! games ps4 185413490784 games ps4

  42. If some one desires expert view regarding blogging and site-building afterward i recommend him/her
    to pay a visit this blog, Keep up the nice job.

  44. whoah this weblog is wonderful i love reading your articles.
    Stay up the good work! You recognize, many persons are hunting around for this information, you can aid them greatly.

  59. Greetings from Los angeles! I’m bored at work so I decided to browse your blog on my iphone during lunch break.

    I really like the info you provide here and can’t wait to take a look when I get home.
    I’m shocked at how fast your blog loaded on my phone ..
    I’m not even using WIFI, just 3G .. Anyhow, very good blog!
    0mniartist asmr

  62. Simply want to say your article is as astounding.
    The clearness for your publish is simply cool and that i could think you’re knowledgeable on this subject.

    Fine together with your permission allow me to snatch your
    RSS feed to stay up to date with forthcoming post.
    Thanks a million and please carry on the rewarding work.
    0mniartist asmr

  66. We’re a gaggle of volunteers and starting a brand new scheme in our community.

    Your website offered us with useful info to work on. You
    have done a formidable activity and our entire group might be
    grateful to you. asmr 0mniartist

  70. What’s up to every body, it’s my first pay a quick visit of this weblog;
    this website includes amazing and genuinely fine stuff for readers.

  71. Please let me know if you’re looking for a article author
    for your blog. You have some really great posts and I think I would be a good
    asset. If you ever want to take some of the load off, I’d absolutely love
    to write some content for your blog in exchange for a link back to mine.
    Please shoot me an email if interested. Thanks!

  76. Hi there! I’m at work surfing around your blog from my new iphone 4!
    Just wanted to say I love reading your blog and look forward to all your posts!
    Carry on the superb work!

  79. What i do not understood is in reality how you are no longer actually much more well-favored than you may be now.
    You are so intelligent. You realize thus considerably
    when it comes to this topic, produced me individually believe it from a lot of varied angles.
    Its like men and women aren’t interested except it is something to
    do with Girl gaga! Your own stuffs excellent.
    At all times care for it up!

  92. scoliosis
    Hi there, after reading this remarkable piece of writing i am also cheerful to share my familiarity here
    with mates. scoliosis

  160. Can I simply just say what a comfort to discover someone who really knows what they are discussing on the net.
    You actually understand how to bring an issue to light and make it
    important. More and more people really need to look at this and understand this side of the story.
    I was surprised you’re not more popular because you
    surely possess the gift.

  162. Nice post. I learn something totally new and challenging on sites
    I stumbleupon every day. It’s always interesting to read content from
    other writers and practice something from their sites.

  163. Whats up this is kind of of off topic but I was wanting to know if blogs use
    WYSIWYG editors or if you have to manually code with HTML.
    I’m starting a blog soon but have no coding knowledge so I wanted to
    get advice from someone with experience. Any help would be greatly appreciated!

  166. After looking at a handful of the articles on your website,
    I really like your technique of writing a blog.
    I saved as a favorite it to my bookmark webpage list and will be checking back in the near
    future. Take a look at my web site as well and let me know your opinion.

  173. Hey! I just wanted to ask if you ever have any issues with hackers?
    My last blog (wordpress) was hacked and I ended up losing months of hard work due to no data backup.
    Do you have any methods to stop hackers?

  178. My coder is trying to persuade me to move to .net from PHP.
    I have always disliked the idea because of the
    expenses. But he’s tryiong none the less. I’ve been using Movable-type on numerous websites for about a year and am anxious about switching to another platform.

    I have heard fantastic things about blogengine.net.

    Is there a way I can import all my wordpress content into it?
    Any kind of help would be really appreciated!

  182. Good post. I learn something totally new and challenging on websites I stumbleupon everyday.
    It’s always exciting to read through articles from other writers and practice a
    little something from their websites.

  183. I simply could not depart your website before suggesting that I really enjoyed the standard info an individual provide for your guests? Is going to be again ceaselessly in order to check out new posts.

LEAVE A REPLY

Please enter your comment!
Please enter your name here