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BRICS countries join top investors rankings in Africa

Xinhua | Updated: 2013-03-26 15:08

GENEVA -- The BRICS countries have grown to rank among the top investing countries in Africa on foreign direct investment stocks and flows, the United Nations Conference on Trade and Development said in its latest Global Investment Trends Monitor.

Among the top 20 investors in Africa in 2011, China, India, South Africa were ranked the fourth, fifth and 17th respectively in terms of FDI flows; while South Africa, China, India and Russia were the fifth, sixth, seventh and 15th largest holders of FDI stocks respectively, said the report.

In 2010, the share of BRICS in FDI inward stock to Africa reached 14 percent and their share in inflows reached 25 percent; the share of BRICS countries in Africa's total value of greenfield projects rose from 19 percent in 2003 to nearly 25 percent in 2012, according to the report.

It said that most BRICS FDI projects in Africa are in manufacturing and services sectors, which has positive consequences for job creation and industrial growth.

Chinese FDI stock in Africa stood at $16 billion by the end of 2011. South Africa is the leading recipient of Chinese FDI in Africa, followed by Sudan, Nigeria, Zambia and Algeria, it said.

In the report, titled the Rise of BRICS FDI and Africa, UNCTAD also found out that BRICS have emerged as major recipient of FDI and important outward investors.

Over the past decade, FDI inflows to BRICS more than tripled to an estimated $263 billion in 2012. Their share in world FDI flows has risen from 6 percent in 2000 to 20 percent in 2012, it said.

At the meantime, their outward FDI has risen from $7 billion in 2000 to $126 billion in 2012, or nine percent of world flows.

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