Capital Imports - Intelpoint

Egypt, South Africa, and Nigeria lead Africa’s $1.21 trillion cumulative FDI inflows since 1990, with $195B, $151B, and $111B respectively

Egypt leads with $195.2 billion in cumulative FDI inflows as of 2024.
South Africa follows with $151.0 billion, and Nigeria is third with $110.7 billion.
Only these three countries have crossed the $100 billion mark over the 34-year span.
Morocco and Mozambique are neck-and-neck, with around $58–59 billion each.
Ghana and Ethiopia show strong mid-tier performances, both near or above $45 billion.
DR Congo, Algeria, and Congo round out the top 10 — all with over $30 billion in long-term FDI.

After peaking at $3.88B in 2019, Ghana’s FDI fell to $1.31B in 2023, a 66% drop in four years

FDI inflows surged from just $0.01 billion in 1990 to a record $3.88 billion in 2019, marking a 388x increase over 30 years.
Between 2006 and 2019, Ghana consistently attracted over $1 billion annually, with nine of those years surpassing $3 billion.
The highest FDI year on record was 2019, likely reflecting peak investor confidence before the pandemic.
Since 2021, FDI has remained below $2 billion, with 2023 recording $1.31 billion and 2024 only slightly higher at $1.67 billion.
Ghana’s FDI trend reflects a pattern of post-2000 acceleration, plateauing around 2012–2015, then declining sharply post-2020.

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.

Egypt’s $47 billion FDI haul puts it ahead of major economies in 2024

Global FDI rose to $1.51 trillion, still below its 2015 peak.
The top 10 countries accounted for 65% of total inflows.
Egypt ranked 8th globally with $46.6 billion, ahead of UAE and Mexico.
A $35 billion Ras El-Hekma deal drove much of Egypt’s surge.
Egypt’s FDI grew over 370%, the fastest among top recipients.

Nigeria saw a record $390 million in Chinese FDI in 2007

Nigeria recorded its highest-ever Chinese FDI inflow of $390.4 million in 2007
The second-highest inflow of $333.1 million was recorded in 2012
FDI from China to Nigeria fluctuated significantly over the years, with major peaks in 2007, 2012, and 2020
2022 saw a decline in Chinese FDI to Nigeria, falling to $119.6 million from $308.9 million in 2020

Construction and mining have attracted the largest share of FDI from China to Africa

Construction and mining dominate Chinese FDI in Africa, accounting for nearly 60% of the total investments
Financial intermediation, manufacturing, and commercial services also received $10.96 billion combined, smaller than construction alone
Leasing and commercial services attracted $2.16 billion, the least among all sectors
China’s FDI strategy in Africa continues to emphasise resource extraction and infrastructure, reinforcing economic interdependence

Nigeria's FDI hasn't reached $200 million in any quarter Since 2022

Nigeria's FDI has dropped significantly. From an average of $417m per quarter (2013-2015) to less than $100m (Q1 2022 - Q2 2024), it hit its lowest ($29.8m) in Q2 2024. The trend shows declines since 2013, with key fluctuations and a shift in investment priorities.

2013-2015: FDI was mostly above $200 million per quarter, peaking at $769 million in Q4 2014.
2016-2021: FDI mostly stayed under $400 million, with a $531 million spike in Q3 2018.
2022-2024: FDI hit new lows, bottoming out at $48 million in Q1 2023 and falling even further to $29.8 million in Q2 2024 — the lowest in 46 quarters.

Top investment destinations in Nigeria for the first half of 2021

Between 2017 and 2020, Nigeria’s announced Foreign Direct Investment figures were highest in 2018. However, there have been significant differences between investment announcements and FDI inflow over the years. Here are the FDI announcements and FDI inflow from 2017 to 2020. A destination analysis shows that Bayelsa State leads investment destinations with 36% of the total investments.

Nigeria’s announced Foreign Direct Investment figures and actual inflow in Nigeria from 2017 to 2020