World Bank: FDI inflow into Africa increases by $43b in 2013

The inflow of Foreign Direct Investment into the continent of Africa grew by a hefty 16.2 per in 2013, the World Bank has said.

The Bretton Wood institution in its 'Global Economic Prospects,' published recently in Washington  that FDI in value terms increased to$43 billion in the year, underscoring the improving investment environment and encouraging investment performance on the continent.

It was $32 billion in 2012.
According to the World Bank,  while the real Gross Domestic Product (GDP) of sub-Saharan Africa grew by 4.7 percent in the year, countries in Southern Africa, except South Africa, recorded an average GDP growth of 6 percent.

The report however projected sub-Saharan growth to reach 5.3 percent and 5.5 percent in 2014 and 2016 respectively on the back of 'strengthening external demand.'

The bank however added a caveat on the bullish outlook, warning that 'a protracted decline in commodity prices, tighter global financing conditions and domestic risks including political unrest, and weather shocks could weaken growth prospects.'