Egypt accounted for nearly half of Africa’s $97 billion FDI inflow in 2024

  • Africa attracted $97 billion in FDI in 2024 — nearly double the 2023 level — marking a record year for the continent.
  • Egypt alone accounted for nearly 50% of total African inflows, driven by a $35 billion Ras El-Hekma megaproject and sweeping reforms.
  • Major gainers included Zambia (+1340%), Guinea (+105%), and Mauritania (+74%), showing momentum beyond usual hotspots.
  • Nigeria’s FDI dropped 42%, while South Africa (–29%) and Senegal (–58%) also saw steep declines.

Africa pulled in a record $97 billion in FDI in 2024, but this headline number hides a tale of sharp contrasts. Egypt alone attracted over $46.6 billion, nearly half (48%) the continent’s total, driven by the $35 billion Ras El-Hekma megadeal and wide-ranging economic reforms.

Other high-performers included Zambia, which posted an eye-popping +1340% growth, and Côte d’Ivoire, Mozambique, and Guinea, all seeing solid double-digit gains.

On the flip side, Nigeria’s FDI plunged to $1.08 billion, down from $1.87 billion in 2023 (–42%), while South Africa, Namibia, and Senegal also recorded sharp drops.

Source:

UN Trade and Development (UNCTAD)

Period:

2024
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