Data: Chinese Investment in Africa
Chinese FDI in Africa Data Overview
Chinese annual FDI flows to Africa have increased steadily since 2003, but remain modest compared to China’s FDI in other regions.
In 2023, China’s FDI in Africa reached US$3.96 billion, up from US$75 million two decades earlier. Flows peaked in 2008 at US$5.5 billion, driven by the Industrial and Commercial Bank of China’s (ICBC) acquisition of a 20% stake in Standard Bank of South Africa.
As shown in the chart below, U.S. FDI flows to Africa in 2023 (US$7.79 billion) exceeded those of China. The top five African destinations for Chinese FDI that year were Niger, South Africa, Angola, Morocco, and the Republic of Congo. For U.S. investment, the main destinations were Egypt, South Africa, and Nigeria. However, it’s worth noting that over half of U.S. FDI flows were not disclosed in detail.