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:US)’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.
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