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Huge foreign direct inflows into South Africa ascribed to Prosus

Published: 2021-12-15 09:45 +02:00 by Olivia Kumwenda-Mtambo tag: investment

South Africa recorded R557.9-billion of foreign direct investment inflows in the third quarter of 2021.




South Africa recorded R557.9-billion of foreign direct investment inflows in the third quarter of 2021 versus inflows of R17.4-billion in the second quarter, central bank data showed on Wednesday.
The South African Reserve Bank said in its December Quarterly Bulletin that the large inflows were due to technology investor Prosus buying about 45% of its South African parent Naspers.
Portfolio investments, reflecting a record of buying and selling of securities such as bonds and shares, saw outflows of R370.9-billion in July-September compared to outflows of R100-million in the prior quarter.
“Substantial net sales of equities of R362-billion rand in the third quarter of 2021 can, among others, be attributed to non-resident investors exchanging shares held in Naspers for Prosus shares,” the Bank said.  — (c) 2021 Reuters
 





Naspers Prosus Reserve Bank Sarb

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Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.