IDE IN AFRICA: AN EXCEPTIONAL YEAR IN 2024
In 2024, foreign direct investment (FDI) flows to Africa reached a historic high of $94 billion, marking an 84% increase, according to the UNCTAD report. This impressive result is primarily attributed to a large-scale project in Egypt aimed at transforming the Ras El-Hekma peninsula into a leading financial, tourist, and logistics center. Excluding this project, FDI to the continent still showed a notable increase of 23%, totaling $50 billion; this reflects a growing interest from international investors in African opportunities, despite marked regional disparities. Globally, FDI increased by 11% to reach $1.4 trillion. However, after adjusting to exclude financial flows passing through European intermediary platforms, the figures reveal a real decline of 8%. Furthermore, FDI to developing economies outside Africa recorded a decrease of 2%, highlighting the financial challenges in achieving the Sustainable Development Goals (SDGs). In this global context, Côte d'Ivoire stands out as a key player in West Africa, thanks to its structural reforms and the valorization of its natural resources. Major discoveries in gold, oil, and gas, along with the emblematic Baleine energy project, reinforce its strategic role in the regional energy sector. The country's economic modernization is also supported by significant investments in road infrastructure and the digitalization of its administration, illustrated by the deployment of an innovative economic portal. Between 2015 and 2021, incoming FDI in Côte d'Ivoire grew by an average of 26% per year, reaching 1,051.5 billion CFA francs in 2023 (Bceao, 2023). The country accounts for nearly 30% of FDI in the West African Economic and Monetary Union (UEMOA), ranking first in the franc zone and third in the Economic Community of West African States (ECOWAS). With an ambitious strategy focused on energy, infrastructure, and agriculture, Côte d'Ivoire aims to become an essential economic hub, balancing international attractiveness with sustainable development.
Source: Media Afrique News, MEPD Web Portal Editorial Team
