Kenya and Nigeria accounted for nearly half ($2.45bn) of Africa’s top 10 outward FDI in 2025

Key Takeaways

  • Kenya led Africa’s outward FDI in 2025, recording $1.26bn.
  • Nigeria followed closely with $1.19bn, after a 191% increase.
  • Together, Kenya and Nigeria accounted for $2.45bn of the top 10 total.
  • Morocco and Egypt completed the top four, with $812.8m and $695.9m.
  • Angola recorded the fastest growth among the top 10, rising 278%.
  • Africa’s total outflow was lower because negative outflows offset gains elsewhere.

FDI is not only about money coming into countries. It also includes money going out, when companies and investors based in a country invest abroad.

In 2025, Kenya and Nigeria led Africa’s outward FDI, with Kenya recording $1.26 billion and Nigeria $1.19 billion. Together, they accounted for nearly half of the $5.25 billion recorded by Africa’s top 10 sources of FDI outflows.

Morocco followed with $812.8 million, ahead of Egypt’s $695.9 million. Angola recorded the fastest growth among the top 10, with outflows rising 278%, while Nigeria’s increased by 191%.

Africa’s total FDI outflows stood at $1.75 billion in 2025, lower than the $5.25 billion recorded by the top 10 because FDI outflows are net values. Negative outflows from South Africa (-$4.02bn), Chad (-$216.8m), Zambia (-$149.6m), Eswatini (-$5.3m) and Gambia (-$871,349) offset positive outward investment from other countries.

Source:

UN Trade and Development (UNCTAD)

Period:

2025
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