Foreign Direct Investment

“FDI seeminly does not like vacuums. As multinations from developed economies divested from the continent, those from developing economies quickly moved in to fill the lacunae.

The UAE’s Emirates Telecommunications Corp. for example took up a 53% stake in Itissalat Al Maghreb SA, aforeign affiliate of Vivendi USD 5.7 billion; Chinese and Indian firms were active in Algeria and South Africa; and the Qatar National Bank shelled out USD 500 million for stake in Ecobank”.

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