The University of Cape Town on Tuesday morning confirmed reports that “four cars were set alight at .
Africa received record foreign direct investment inflows of $53billion last year and also trumped the world's other developing regions by providing the highest rate of returns on foreign direct investment for the past two years, this year's World Investment Report reveals.
The report shows that Africa's foreign direct investment inflows in 2007 continued to be geographically concentrated - the top 10 host countries accounted for more than 82percent of total inflows, and nine countries received inflows of $1billion or more.
The report is the United Nations Conference on Trade and Development's yearly review of investment trends.
The surge in foreign direct investment to the region, and its profitability, were driven by the boom in global commodity prices and by Africa's changing policy environment, said the researchers.
North Africa attracted 42percent and sub-Saharan Africa 58percent of foreign direct investment.
Investment in Africa's least developed countries also grew.
As a result of the commodity price boom, income on inward foreign direct investment grew by 31percent last year.
A large proportion of foreign direct investment in 2007 concentrated on expanding projects related to natural-resource exploitation, partly through re-invested earnings.
Transnational corporations from the United States and Europe were the main investors in the continent, followed by African investors, particularly from South Africa, said the report. - I-Net Bridge