Ajen Sita, Africa CEO at EY, discusses the Africa Attractiveness Report and how more FDI is going into consumer-facing industries than mining, oil and gas
BUSINESS DAY TV: SA remains the leading foreign direct investment (FDI) destination in Africa. FDI increased 6.9% in 2016, that’s according to EY and joining us to discuss details is Ajen Sita, Africa CEO at EY. Ajen, so the Africa Attractiveness Report that you’ve released and which gives those details on SA obviously came out before the Cabinet reshuffle and the recent uncertainty it has created. So do you think SA could be looking at losing that top spot after all of this happened? AJEN SITA: Today, SA receives the largest portion of FDI projects of any country in Africa, in fact it gets about 20% of all the FDI projects. If we look at it, though, by capital, already Egypt is well ahead of SA, it already receives about 40% of FDI capital, SA only about 8%.
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