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Morley, David - The Cambridge introduction to creative writing (2011) - libgen.li
| $ billions 70% Equatorial Guinea rest of Africa Chad Angola Sudan Nigeria South Africa Source: World Bank World Development Indicators. FIGURE 2.23 FDI to Africa by Destination, Cumulative Between 1990 and 2004 FIGURE 2.24 Share of Sectoral FDI Inflows to Selected African Countries, April 2006 extraction business and financial services trading all other 10 20 30 40 50 60 70 80 90 South Africa Ghana Tanzania percent manufacturing Source: OCO Consulting and Foreign Investment Advisory Services staff calculation. Note: Greenfield projects. 02-Chap2:02-Chap2 10/9/06 2:41 PM Page 96 PERFORMANCE AND PATTERNS OF AFRICAN - ASIAN TRADE AND INVESTMENT FLOWS 97 participated in various major infrastructure projects throughout Africa during its earlier involvement in Africa and is still very active in investing in infrastructure projects. Globally, 75 percent of China’s FDI is in the tertiary sector, including construction and business activities (see box 2.5). More recently, however, a large proportion of Chinese FDI has gone to oil-rich African countries (see figure 2.26). In 2002, some 585 Chinese enterprises received approval by the Chinese authorities to invest in Africa, accounting for 8 percent of the total number of approvals. South Africa had approvals, amounting to $119 million in value. Other important Chinese FDI destinations in Africa include Tanzania, Ghana, and Senegal. Today, it is estimated that there are 700 Chinese enterprises operating in Africa. 20 As it is in other regions of the world, Indian FDI in Africa is mostly in the services and manufacturing sectors. However, in Africa, India also has significant FDI in natural resources, including the oil sector (in Sudan, for example. Over the period 1995–2004, Africa accounted for 16 percent of India’s FDI, at $2.6 billion. Like China, India seeks primarily to secure energy sources from Africa as well as other natural resources such as timber, non-oil minerals, and precious stones to support its dynamic economic growth. Of course, India has been present on the African continent for decades. In East and Southern Africa, the large Indian diaspora, whose members have business ties to India and a good knowledge of Africa, has played a significant role in attracting new investment to the continent. This is especially true in recent years, given that India is flush with foreign reserves, and the government has lifted regulations and controls allowing firms to go abroad and has removed the $100 million capon foreign investment by Indian firms. FIGURE 2.25 Download 5.17 Mb. Share with your friends:
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