Over the years, Africa has emerged as a favored investment destination for the Western and Asian countries; the US, China and India are all vying for a piece of the African pie. FDI has been pouring into Africa, with Egypt being the lead gainer. As per the latest figures, the North African nation recorded one of the biggest increases in FDI. The nation reported $17.9 billion of investments. It also witnessed an increase of 42 percent in project numbers. Angola, which witnessed an increase in its FDI to more than $16 billion, saw a stupendous increase in its ranking from the twentieth spot to the second spot. Other African countries within the top ten list that recorded healthy increases in FDI project numbers included Morocco, Mozambique and Ethiopia. Located in the Horn of Africa, Ethiopia recorded 32 projects in the year 2014, enabling it to rise into the top ten destinations. Uganda, which witnessed a 40 percent slump, could not find a place among the top ten ranking by project numbers. Zambia made it to the list due to its capital investment with $3 billion recorded in the year 2014.
South Africa topped the list recording 116 projects in 2014. It was followed by Morocco with 65 projects, Kenya 57, Egypt 51 and Mozambique 50. Other countries included Nigeria (43), Ghana (33), Ethiopia (32), Tanzania (16), and Zambia (15).
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