By Kopano Gumbi.
South Africa recorded foreign direct investment inflows of R16.6-billion in the second quarter of 2024, down from R24.4-billion rand in the first quarter, central bank data showed on Thursday.
The South African Reserve Bank said in its Quarterly Bulletin that the inflows were notably driven by a non-resident company increasing its equity investment in a domestic broadcasting company.
In the second quarter Canal+, part of French media group Vivendi, made a firm cash offer of R125 a share for local broadcaster Multichoice and built up its stake in the business.
Portfolio investments recorded outflows of R 20.1-billion in April to June, compared with outflows of R52-billion rand in the first three months of this year.