Angola receives more foreign investment than other African nations
28 July 2011
Angola was the beneficiary of more foreign direct investment (FDI) than any other African country in 2010 for its infrastructure development.
Macau Hub has revealed that the nation received $9.9 billion (£6.06 billion) last year, according to the United Nations Conference on Trade and Development's World Investment Report 2011.
In comparison, Mozambique was given $789 million in 2010 to develop its transport, trade and business infrastructure.
This is lower than the $893 million it received in 2009.
The amount Angola was awarded had also dropped from the previous year, from $11.6 billion in 2009.
Indeed, Macau Hub reported the UN group as saying that FDI in Africa is falling and in 2010 it received ten per cent of all FDI to developing countries, compared with 12 per cent the year before.
Meanwhile, Angola's oil firm Sonangol recently invested $12 million in the port and airport at Sao Tome and Principe to boost the nation's sea and air travel.