South Africa sees smaller FDI inflows in fourth quarter - c.bank

Credit: REUTERS/SIPHIWE SIBEKO

JOHANNESBURG, March 28 (Reuters) - South Africa recorded smaller foreign direct investment (FDI) inflows of 16.2 billion rand ($856.67 million) in the fourth quarter of 2023, from 26.0 billion rand in the third quarter, central bank data showed on Thursday.

For 2023 as a whole direct investment inflows moderated to 96.5 billion rand, down from 151.0 billion rand in 2022, as equity investment by foreign parent companies in domestic companies slowed down, the South African Reserve Bank's Quarterly Bulletin also showed.

Portfolio investments saw smaller outflows of 9.0 billion rand in the final three months of 2023, following outflows of 41.9 billion rand in the previous quarter. Cumulative portfolio investment outflows reached 87.5 billion rand in 2023, compared to inflows of 42.6 billion rand in 2022.

($1 = 18.9104 rand)

(Reporting by Kopano Gumbi Editing by Alexander Winning)

((Kopano.Gumbi@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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