The main investors and where their money goes
United States: $94 billion in 26 African countries
11.1% of all foreign direct investment in Africa recorded by the IMF. Largest investor in Algeria and Mauritius.
Main destinations: Mauritius $58.7 billion · Egypt $11.9 billion · South Africa $9.7 billion · Algeria $7.5 billion · Morocco $1.9 billion · Nigeria $1 billion · Guinea $637.1 million · Ghana $387.8 million
United Kingdom: $81.5 billion in 34 African countries
9.6% of all foreign direct investment in Africa recorded by the IMF. Largest investor in Botswana, Senegal, South Africa and Tanzania.
Main destinations: South Africa $28.9 billion · Mauritius $19.1 billion · Tanzania $5.2 billion · Egypt $5 billion · Nigeria $4.1 billion · Botswana $4 billion · Ghana $2.9 billion · Senegal $2.4 billion
France: $61.4 billion in 38 African countries
7.2% of all foreign direct investment in Africa recorded by the IMF. Largest investor in Angola, Benin, Cameroon, Central African Republic, Congo, Côte d'Ivoire, Ghana, Morocco and Tunisia.
Main destinations: Morocco $13.3 billion · Mauritius $6.4 billion · Nigeria $6.2 billion · Angola $5 billion · Ghana $3.5 billion · Tunisia $2.7 billion · Côte d'Ivoire $2.7 billion · Congo $2.7 billion
India: $56.8 billion in 23 African countries
6.7% of all foreign direct investment in Africa recorded by the IMF.
Main destinations: Mauritius $47.5 billion · Mozambique $5.8 billion · Zambia $817.4 million · Uganda $452.3 million · Kenya $372.5 million · Gabon $366.4 million · Benin $261.5 million · Libya $229.6 million
United Arab Emirates: $46 billion in 12 African countries
5.4% of all foreign direct investment in Africa recorded by the IMF. Largest investor in Mozambique.
Main destinations: Mozambique $16.6 billion · Mauritius $16 billion · Morocco $9.3 billion · Zambia $956.7 million · Algeria $787.8 million · Seychelles $742.9 million · Nigeria $629.9 million · Ghana $400 million
South Africa: $43.4 billion in 30 African countries
5.1% of all foreign direct investment in Africa recorded by the IMF. Largest investor in Eswatini, Kenya, Lesotho, Togo and Zimbabwe.
Main destinations: Mauritius $19.5 billion · Kenya $4 billion · Mozambique $3.7 billion · Namibia $2.3 billion · Mauritania $1.9 billion · Zimbabwe $1.8 billion · Togo $1.2 billion · Mali $1 billion
China: $41.1 billion in 39 African countries
4.8% of all foreign direct investment in Africa recorded by the IMF. Largest investor in Chad, Democratic Republic of the Congo, Equatorial Guinea, Eritrea, Ethiopia, Guinea, Namibia, Niger and Sudan.
Main destinations: Niger $6.8 billion · South Africa $6.3 billion · Democratic Republic of the Congo $4.3 billion · Namibia $3.4 billion · Guinea $2.4 billion · Angola $2.1 billion · Ethiopia $2 billion · Kenya $1.9 billion
Singapore: $33.5 billion in 6 African countries
3.9% of all foreign direct investment in Africa recorded by the IMF.
Main destinations: Mauritius $30.7 billion · Nigeria $1.7 billion · Côte d'Ivoire $542.2 million · Zambia $409.2 million · Senegal $91.1 million · Burkina Faso $5.9 million
Hong Kong: $20.7 billion in 6 African countries
2.4% of all foreign direct investment in Africa recorded by the IMF. Largest investor in Liberia.
Main destinations: Liberia $10.6 billion · Mauritius $8.1 billion · Nigeria $1.5 billion · Botswana $398.6 million · Uganda $70.5 million · Cabo Verde $1.5 million
Italy: $17.4 billion in 29 African countries
2.1% of all foreign direct investment in Africa recorded by the IMF.
Main destinations: Egypt $7.2 billion · Algeria $3.2 billion · Morocco $2.2 billion · Tunisia $1.6 billion · Congo $694.5 million · Angola $594 million · Côte d'Ivoire $530.1 million · Libya $350.5 million
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| Rank | ||||||||
|---|---|---|---|---|---|---|---|---|
| 7 | Algeria | North Africa | 25.7 | 2024 | United States | 29.0 | Italy | France |
| 11 | Angola | Central Africa | 14.4 | 2024 | France | 34.7 | Portugal | Netherlands |
| 32 | Benin | West Africa | 3.7 | 2022 | France | 27.4 | China | Côte d'Ivoire |
| 23 | Botswana | Southern Africa | 7.3 | 2024 | United Kingdom | 55.2 | South Africa | Mauritius |
| 36 | Burkina Faso | West Africa | 2.8 | 2024 | Canada | 41.6 | Australia | Bermuda |
| 51 | Burundi | East Africa | 0.0 | 2024 | Mauritius | 70.1 | France | China |
| 37 | Cabo Verde | West Africa | 1.7 | 2022 | Portugal | 25.1 | United Kingdom | Spain |
| 31 | Cameroon | Central Africa | 4.1 | 2024 | France | 40.6 | China | Morocco |
| 47 | Central African Republic | Central Africa | 0.2 | 2024 | France | 73.7 | Morocco | Luxembourg |
| 38 | Chad | Central Africa | 1.1 | 2024 | China | 61.9 | Netherlands | Morocco |
| 52 | Comoros | East Africa | 0.0 | 2024 | Mauritius | 44.7 | China | Azerbaijan |
| 25 | Congo | Central Africa | 5.7 | 2024 | France | 47.1 | China | Italy |
| 13 | Côte d'Ivoire | West Africa | 13.5 | 2022 | France | 20.0 | Canada | Cayman Islands |
| 20 | Democratic Republic of the Congo | Central Africa | 8.1 | 2024 | China | 53.0 | Netherlands | South Africa |
| 46 | Djibouti | East Africa | 0.3 | 2024 | Mauritius | 42.9 | China | France |
| 3 | Egypt | North Africa | 56.3 | 2024 | Netherlands | 37.7 | United States | Italy |
| 44 | Equatorial Guinea | Central Africa | 0.5 | 2024 | China | 32.7 | South Korea | Portugal |
| 48 | Eritrea | East Africa | 0.2 | 2024 | China | 96.6 | Spain | Netherlands |
| 40 | Eswatini | Southern Africa | 0.9 | 2022 | South Africa | 44.1 | United Kingdom | Mozambique |
| 30 | Ethiopia | East Africa | 4.2 | 2024 | China | 48.9 | Netherlands | Mauritius |
| 33 | Gabon | Central Africa | 3.5 | 2024 | Netherlands | 36.1 | France | India |
| 49 | Gambia | West Africa | 0.2 | 2024 | Nigeria | 65.5 | Mauritius | China |
| 16 | Ghana | West Africa | 11.0 | 2024 | France | 31.8 | United Kingdom | Australia |
| 21 | Guinea | West Africa | 8.0 | 2024 | China | 30.0 | British Virgin Islands | United Kingdom |
| 45 | Guinea-Bissau | West Africa | 0.4 | 2023 | Senegal | 22.7 | Turkey | Luxembourg |
| 10 | Kenya | East Africa | 14.7 | 2024 | South Africa | 27.6 | Mauritius | China |
| 41 | Lesotho | Southern Africa | 0.6 | 2024 | South Africa | 89.3 | Mauritius | Botswana |
| 14 | Liberia | West Africa | 12.2 | 2024 | Hong Kong | 87.3 | Norway | Greece |
| 19 | Libya | North Africa | 8.5 | 2024 | Netherlands | 91.9 | Spain | Italy |
| 34 | Madagascar | East Africa | 3.5 | 2024 | Mauritius | 36.0 | Netherlands | South Korea |
| 39 | Malawi | East Africa | 1.1 | 2024 | Mauritius | 29.3 | United States | Luxembourg |
| 26 | Mali | West Africa | 5.6 | 2024 | Canada | 38.3 | South Africa | British Virgin Islands |
| 27 | Mauritania | West Africa | 4.7 | 2024 | Netherlands | 62.4 | South Africa | China |
| 1 | Mauritius | East Africa | 333.2 | 2024 | United States | 17.6 | India | Singapore |
| 5 | Morocco | North Africa | 50.3 | 2024 | France | 26.4 | United Arab Emirates | Spain |
| 4 | Mozambique | East Africa | 52.5 | 2024 | United Arab Emirates | 31.7 | Mauritius | India |
| 17 | Namibia | Southern Africa | 10.8 | 2024 | China | 31.0 | South Africa | United Kingdom |
| 18 | Niger | West Africa | 9.8 | 2024 | China | 69.4 | France | Turkey |
| 6 | Nigeria | West Africa | 42.1 | 2024 | Bermuda | 16.9 | Netherlands | France |
| 29 | Rwanda | East Africa | 4.3 | 2024 | Mauritius | 33.7 | Kenya | United States |
| 50 | São Tomé and Príncipe | Central Africa | 0.1 | 2024 | Portugal | 69.0 | United States | Luxembourg |
| 15 | Senegal | West Africa | 12.1 | 2022 | United Kingdom | 19.9 | Australia | France |
| 28 | Seychelles | East Africa | 4.7 | 2024 | Mauritius | 19.3 | United Arab Emirates | China |
| 42 | Sierra Leone | West Africa | 0.6 | 2024 | Nigeria | 33.8 | China | Mauritius |
| 53 | Somalia | East Africa | 0.0 | 2024 | Turkey | 75.0 | United Kingdom | Netherlands |
| 2 | South Africa | Southern Africa | 115.5 | 2024 | United Kingdom | 25.1 | Netherlands | Belgium |
| 43 | Sudan | North Africa | 0.6 | 2024 | China | 140.4 | South Korea | Italy |
| 9 | Tanzania | East Africa | 19.1 | 2023 | United Kingdom | 26.9 | Norway | Mauritius |
| 35 | Togo | West Africa | 3.4 | 2022 | South Africa | 35.9 | Qatar | Netherlands |
| 22 | Tunisia | North Africa | 7.9 | 2024 | France | 34.6 | Italy | Kuwait |
| 8 | Uganda | East Africa | 19.4 | 2024 | Netherlands | 58.7 | France | United Kingdom |
| 12 | Zambia | East Africa | 14.4 | 2024 | Canada | 29.9 | British Virgin Islands | China |
| 24 | Zimbabwe | East Africa | 5.8 | 2024 | South Africa | 31.6 | Mauritius | China |
Source: IMF, Direct Investment Positions by Counterpart Economy (Coordinated Direct Investment Survey). Last checked 10 October 2026.
Method and sources
Figures are the stock of inward direct investment, the value of foreign-owned stakes of 10% or more in companies, by the investor's home economy, from the Direct Investment Positions by Counterpart Economy (Coordinated Direct Investment Survey). Most African countries report their own figures; where they do not, the figures are those reported by investing countries. The IMF counts the immediate owner, so money routed through financial centres is shown there. Debt owed to foreign lenders is separate: see debt in Africa.
More: Debt in Africa and Africa's largest creditors · African economies compared · Largest companies in Africa · Compare investment across countries · Natural resources in Africa
Frequently asked questions
Which country invests the most in Africa?
United States, with $94 billion of direct investment across 26 African countries in the IMF's figures, followed by United Kingdom ($81.5 billion), France ($61.4 billion) and India ($56.8 billion).
How much has China invested in Africa?
$41.1 billion of direct investment stock in 39 African countries, as reported by the receiving countries to the IMF, and a further $20.7 billion through Hong Kong. Its largest destinations are Niger, South Africa, Democratic Republic of the Congo and Namibia. Chinese lending, which is larger, is counted separately as debt.
Why do Bermuda and the British Virgin Islands appear as big investors?
Companies often hold African investments through holding companies registered in financial centres. The IMF records the immediate investor, so these places stand in for owners based elsewhere.
Which African country gets the most foreign investment?
Mauritius, with $333.2 billion of foreign direct investment stock, then South Africa, Egypt and Mozambique.