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 with China’s FDI in other regions.
In 2024, China’s FDI in Africa reached US$3.37 billion, up from US$320 million two decades earlier, though 15% lower than the previous year. 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 2024 were negative, at –US$2.02 billion. This followed 2023, when U.S. FDI exceeded China’s for the first time in a decade.
The top five African destinations for Chinese FDI in 2024 were South Africa, Mozambique, Niger, Algeria, and Mauritius. For U.S. investment, the main destinations were South Africa, Seychelles, and Mauritius. U.S. data keep flows into 11 countries confidential to prevent the disclosure of individual company information.