SA’s foreign direct investment drops in Q3
News
By
Reuters
| Dec 16, 2018
PRETORIA - South Africa’s foreign direct investment inflows fell by nearly 3 billion rand ($209.6 million) in the third quarter, the central bank said on Friday in its quarterly bulletin, as foreign firms sent less money to local subsidiaries.
South Africa’s direct investment liability fell to 27.9 billion rand from 31.6 billion, the Reserve Bank (SARB) said.
Portfolio investments rose to 17.9 billion rand from 16.6 billion in the months from July to September.
“The larger debt security inflow could be attributed to the issuance of foreign currency-denominated bonds by a public corporation,” the bank said in the publication.
Since replacing Jacob Zuma as president in February, Cyril Ramaphosa has vowed to up foreign investment to kick-start an economy that only recently climbed out of a recession triggered largely by low business confidence linked to policy uncertainty.
READ MORE
Court orders KPLC to pay firm Sh50 million for trespass
Fears of maize seed crisis as floods hit Perkerra irrigation scheme
When is the best time to invest?
Why manufacturers want five-year tax break on SME loans
UK tea giant Lipton to sell 15pc stake to local farmers in deal
Why oil products' volume rises or drops during transportation
Private equity fund Ascent gets minority share in Dune Packaging
Fertiliser and soil health strategy needed to unlock Africa's agricultural potential
Mudavadi calls for a sustainable approach to soil health
MPs grill firm's bosses over 1,544 extra bags used to package fake fertiliser
Ramaphosa appointed a team of business and finance experts in April to scour the globe for $100 billion in investment.
In October at an investment summit in Johannesburg, Ramaphosa said the country had already secured investment commitments of around $20 billion.
- Court orders KPLC to pay firm Sh50 million for trespass
- Fears of maize seed crisis as floods hit Perkerra irrigation scheme
- UK tea giant Lipton to sell 15pc stake to local farmers in deal
- Fuliza: Kenya eyes Sh160 billion loan from World Bank
- Treasury increases Hustler Fund as borrowers struggle to get loans