The United Nations Conference of Trade and Development (UNCTAD) released its 2010 World Investment Report on Thursday (22 July) and it revealed that, as a developing country, South Africa was the largest foreign direct investor in Africa between 2006 and 2008.

This was a significant announcement in light of the fact that China is also considered a developing country. Between 2006 and 2008, South African companies invested an average of $2.61-billion a year over the period, even higher than FDI flows from China, whose companies invested an average of $2.53-billion a year on the continent during the same period.

The report notes that FDI flows are expected to recover during 2010, with Africa being no exception. The report foresees global FDI flows exceeding $1.2-trillion in 2010, possibly rising to as much as $2-trillion in 2012.

South Africa is also expected to record a recovery during 2010, having been ranked in the WIR's top 20 "priority economies" for global FDI for the first time, coming in at 19.

Reported By Engineering News