Index shows South Africa as only African country on top 25 investment destinations

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CAPE TOWN – Africa has been listed as the only country in Africa on the list of top 25 countries for Foreign Direct Investment (FDI), according a new .

The A.T. Kearney’s 2014 Foreign Direct Investment Confidence Index shows that Africa climbed two spots become the 13th most attractive destination for FDI.

The U.S. maintains its first place from last year, followed by China and Canada.

The A.T. Kearney is a global consulting firm with 59 offices in major business centres in 40 countries.

The welcomed the , saying “it shows that Africa’s strategic with foreign investors is gaining momentum.

South Africa’s Phumla Williams, the acting CEO of the Communication and Information System (GCIS), said “the which cites South Africa as the only country in Africa on the list of top 25 countries demonstrates that country’s blueprint on development is yielding results.

“South Africa lucrative opportunities for international investor partnerships, as the country is uniquely positioned as the gateway Africa.

“More foreign companies are finding South Africa as an investment destination of choice.

tax relief incentives, announced in 2011, have also contributed to attracting foreign direct investment’’.

The CEO said South Africa’s commitment to Renewable Energy Independent Power Provider Programme had been identified as of the key drivers of its improved rating on the Index.

The programme, he added, was aimed at increasing the supply of electricity through renewable energy and to address socioeconomic and environmentally growth.

“South Africans are encouraged to embrace foreign direct investment and join hands with in its initiatives to achieve the country’s economic vision.

“This advancement proves that South Africa is indeed a better place to live in now,’’ Williams added. (Xinhua/NAN)