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China Remains Africa’s Largest Source of FDI and Job Creation, Says EY’s Annual Investment Report

by Eric Olander

China was the leading source of foreign direct investment in Africa from 2016 to 2020 in terms of both jobs and capital invested, but third behind the United States and France in terms of the number of projects, according to Ernst & Young (EY)’s closely followed annual Attractiveness report that was recently published.

Chinese investment on the continent during this period totaled $70.6 billion and created more than 170,000 jobs, three times as many as the U.S. and France, and more than four times as many as the UK.

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