Ernst & Young’s (EY’s) Africa Attractiveness Survey has listed Nigeria, Kenya and South Africa as Africa’s top investment destinations.
Now at second place, the survey revealed a dramatic improvement in the continent’s perceived attractiveness. Although foreign direct investment (FDI) numbers painted a mixed picture, it showed that companies are successfully growing in Africa.
In 2013, Africa’s share of global FDI projects reached 5.7 per cent, its highest level in a decade. The number of new FDI projects in Africa increased by 4.7 per cent, although the total number of new FDI projects declined by 3.1 per cent, due to the political, uncertainty in North Africa.