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South Africa's FDI inflows slow in second quarter, central bank says

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South Africa's FDI inflows slow in second quarter, central bank says

The SA Reserve Bank logo on a white background
Photo by Reuters

26th September 2024

By: Reuters

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South Africa recorded foreign direct investment inflows of R16.6-billion in the second quarter of 2024, down from R24.4-billion rand in the first quarter, central bank data showed on Thursday.

The South African Reserve Bank said in its Quarterly Bulletin that the inflows were notably driven by a non-resident company increasing its equity investment in a domestic broadcasting company.

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In the second quarter Canal+, part of French media group Vivendi, made a firm cash offer of R125 a share for local broadcaster Multichoice and built up its stake in the business.

Portfolio investments recorded outflows of R20.1-billion in April to June, compared with outflows of R52-billion rand in the first three months of this year.

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