Emerging markets drive investment into Africa, E&Y

May 06, 2013, 2:18 PM EDT
A truck carries accropode, a sea defence barrier designed and built to withstand the most severe tidal surges, on January 31, 2013 in Lagos
AFP/Getty Images

Foreign direct investment from emerging markets into Africa outpaced that from developed markets in 2012, but the number of new FDI projects into the continent fell 12% from the previous year, amid a 15.2% decline of FDI project flow globally, Ernst & Young said in its 2013 Africa Attractiveness survey. Greenfield investments from emerging markets into Africa grew once again in 2012, continuing the trend of the past three years. In the period since 2007, this category of investment from emerging markets into Africa has grown at a healthy compound rate of over 20.7%, in comparison to investment from developed markets, which has grown at only 8.4%. Intra-African investment has been particularly impressive over this period since 2007, growing at a 32.5% compound rate.