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South Africa shifts to FDI inflows in fourth quarter, central bank says - REUTERS
BY Bhargav Acharya
JOHANNESBURG, March 27 (Reuters) – South Africa recorded foreign direct investment inflows of 7.5 billion rand ($411.76 million) in the fourth quarter, compared to outflows of 3.2 billion in the third quarter, central bank data showed on Thursday.
The South African Reserve Bank said in its Quarterly Bulletin that the inflows were due to increased equity investment in domestic subsidiaries by non-resident parent companies.
Portfolio investments recorded smaller inflows of 33.4 billion rand in October-December, compared to inflows of 45.6 billion rand in the third quarter.
“Non-residents’ net acquisition of debt securities, which included the proceeds from national government’s issuance of two international bonds amounting to $3.5 billion, outweighed their disposal of equity securities,” the central bank said.
($1 = 18.2144 rand)
(Reporting by Bhargav Acharya; Editing by Alexander Winning)
