South Africa's foreign direct investment (FDI) swung to inflows in the first quarter from outflows in the final quarter of last year as domestic private firms received equity and debt funding from foreign parent companies, the central bank said on Thursday.
Foreign direct investment inflows totalled R11.7-billion in the first three months of 2019 from outflows of R8.2-billion in the previous quarter, the South African Reserve Bank (SARB) said in its Quarterly Bulletin.
The country registered portfolio investment inflows of R29.2-billion from January to March from outflows of R33.9-billion in the prior quarter as foreigners acquisition of domestic debt securities exceeded net sales of local equities, the SARB said.