South Africa’s foreign direct investment inflows rise to $2.8 billion in second quarter

South Africa recorded foreign direct investment inflows of 53.8 billion rand ($2.8 billion) in the second quarter of 2023, up from inflows of 0.5 billion rand in the first quarter, central bank data showed on Thursday.

The South African Reserve Bank said in its Quarterly Bulletin that the acquisition of a domestic beverage company by a non-resident firm contributed to the increase.

Heineken (HEIN.AS) said in April that it had completed the purchase of wine and cider company Distell.

Second-quarter portfolio investment outflows fell to 4.6 billion rand from 32.0 billion rand in the previous quarter, the Quarterly Bulletin said.

Source: Reuters