| Foreign investors pouring money into Africa are increasingly turning away from commodities-led projects to tap into the growing consumer market, while smaller, less-established countries are also getting a bigger lion’s share. In its annual report on Africa released last week, EY revealed the continent became the world’s second-most attractive investment destination in 2013, just behind North America. In addition, Africa’s share of global foreign direct investment (FDI) reached its highest level in a decade, at 5,7%, while capital investments grew by 12,9% in the same period.
But 2013 also saw some major shifts in investment trends on the continent. Mining and metals, for instance, are no longer the main beneficiaries of FDI and the list of the top 10 countries in FDI projects showed some surprising trends...........................................Full Article: Source
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