Inflows of foreign direct investment into Africa decreased by 44% from 2021 to 2022

Global inflows of foreign direct investment fell by 12% in 2022, and Africa saw a 44% decline from $80 billion in 2021 to $45 billion. According to UNCTAD data, only two of Africa's five major regions — North and East Africa — saw a rise in FDI in 2022.

Source:

United Nations Conference on Trade and Development

Period:

2021 - 2022
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The top 15 countries accounted for 68.8% of global gold production in 2023, with four African nations among the leaders
Key takeaways:
  • China led global gold production with 378.16 tonnes, representing approximately 10.4% of global output.
  • The top five producers (China, Russia, Australia, Canada, and the United States) collectively produced 37% of the world’s gold.
  • African nations showed remarkable strength, with four countries in the top 15 (Ghana, Mali, South Africa, and Burkina Faso).
  • Ghana led Africa in gold production and ranked 6th globally, producing 135.11 tonnes in 2023.
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Nigeria's naira depreciated by 129% in 2024, hitting an average of 1,479 NGN per US$
  • The Nigerian naira depreciated by a record-breaking 129.23% in 2024, the highest drop in the last decade.
  • From 2015 to 2022, the naira's depreciation was relatively controlled, rarely exceeding 20% year-on-year.
  • The exchange rate remained nearly flat from 2017 to 2019, showing signs of stability.
  • In 2023, the naira lost over half its value (51.46%), marking the beginning of the current volatility wave.
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Somalia's official exchange rate (SOS per US$) has generally trended upwards from 2015 to 2024, reaching 28,118.33 SOS per US$
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Key Takeaways:
  • Africa's gold production grew steadily from 621.78 tonnes in 2010 to 1,003.98 tonnes in 2023.
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  • 2023 marked the highest production level in more than a decade.
  • The average annual growth rate in gold mine production over the period was approximately 4%.
Global gold mine production increased steadily from 2010 to 2023, marking a 29% overall rise despite temporary setbacks in 2019 and 2020
Key Takeaways:
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  • The most significant year-over-year growth occurred between 2012 and 2013, with an increase of over 178 tonnes.
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North Africa dominates the strongest African currencies in 2024, with Tunisia taking the lead at TND 3.11/USD
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  • Libya followed as the second-strongest, with an exchange rate of 4.83 LYD per USD.
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  • Botswana’s pula was relatively stable, exchanging at 13.56 per USD, highlighting Southern Africa’s economic steadiness.
  • Ghana and Seychelles had closely matched exchange rates, trading at 14.48 and 14.53 to the dollar, respectively.
  • South Africa, Lesotho, Namibia, and Eswatini all shared almost identical exchange rates of around 18.32–18.33 per USD, showing tight regional monetary coordination.
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