Foreign direct investment into South Africa rose more than fourfold to $5.8 billion last year from $1.2 billion in 2010, Business Report said, citing a report by the United Nations Conference on Trade and Development.

Wal-Mart Stores Inc. (WMT)’s $2.4 billion purchase of a controlling stake in Massmart Holdings Ltd. (MSM) and a $1.3 billion inflow from Jinchuan Group Ltd.’s takeover of copper producer Metorex Ltd. were the biggest contributors to the growth in investment, the Johannesburg-based newspaper said.

South Africa was the biggest recipient of foreign direct investment in Africa after Nigeria, which attracted inflows of $8.9 billion, the report said.

To contact the reporterresponsible for this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net