US direct investment balance in Africa fell to $37.9 billion in 2025, its lowest since 2008

Key Takeaways

  • US direct investment in Africa peaked at $69 billion in 2014 after expanding rapidly from the mid-2000s.
  • By 2025, the balance had fallen 45.1% from its peak to $37.9 billion, its lowest since 2008.
  • Mining drove the cycle, accounting for 88% of the 2010–2014 increase and 97% of the subsequent decline.
  • Africa’s share of the global US direct investment balance remained below 3% throughout 1985–2025.
  • The post-2014 decline was interrupted by brief recoveries in 2017 and 2021–2022.

US investment in Africa expanded rapidly from the mid-2000s and reached a record balance of $69 billion in 2014. However, Africa’s share of the global US direct investment balance stayed between 0.53% and 2.57% throughout 1985–2025.

The balance in Africa’s mining industry, including oil and gas extraction, drove both the rise and the reversal. Mining accounted for 88% of the overall increase between 2010 and 2014 and 97% of the subsequent decline through 2025.

The post-2014 decline was uneven, interrupted by recoveries in 2017 and 2021–2022. By 2025, the balance had fallen to $37.9 billion, 45.1% below its peak. The balance is the accumulated direct investment recorded at year-end and measured at historical cost, not the amount invested during the year.

Source:

US Bureau of Economic Analysis

Period:

1985-2025
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