The Nationwide Bureau of Statistics revealed that African buyers, excluding buyers from Nigeria, contributed a notable quantity of $285.11 million in international capital to Nigeria within the third quarter of 2024.
This contribution accounted for 22.76 p.c of the overall international capital inflows into the nation, highlighting the vital function performed by African nations within the capital import panorama.
An evaluation of the newest capital import report issued by the Nationwide Bureau of Statistics indicated a decline in Africa’s total contribution in comparison with the second quarter of 2024 and the identical interval final yr.
Knowledge from the Nationwide Bureau of Statistics indicated that the overall capital contribution from Africa within the third quarter of 2024 amounted to $285.11 million, a lower of 43.73 p.c in comparison with the second quarter of 2024, which recorded $506.68 million.
On an annual foundation, Africa’s contribution additionally decreased by 16.77 p.c from $342.55 million within the third quarter of 2023.
The primary African contributors within the third quarter of 2024 have been Mauritius, the Republic of South Africa, Ghana and Morocco.
Mauritius remained a big supply of international capital with an influx of $97.63 million, though this displays a pointy decline of 61.05 per cent from the $250.70 million recorded in Q2 2024.
The decline was steeper year-on-year, with Mauritius contributing $226.18 million within the third quarter of 2023, representing a 56.85 per cent decline.
The Republic of South Africa contributed $185.03 million within the third quarter of 2024, which represents a big year-on-year development of 59.02 p.c in comparison with $116.37 million within the third quarter of 2023.
Nevertheless, on a quarterly foundation, South Africa’s contribution declined by 27.73 p.c from the $255.98 million recorded within the second quarter of 2024.
Ghana contributed $2.35 million within the third quarter of 2024 for the primary time in current quarters, indicating renewed curiosity from Ghanaian buyers.
Morocco additionally emerged as a minor contributor, recording $0.10 million in capital inflows through the interval.
In distinction to the downward traits from different African nations, the influx of international capital from Nigerian buyers has proven vital development.
The nation contributed $10.84 million to international capital inflows within the third quarter of 2024, reflecting a notable enhance of 261.33 p.c year-on-year from $3 million within the third quarter of 2023.
On a quarterly foundation, international capital influx from Nigerian buyers rose by 198.63 p.c from the $3.63 million recorded within the second quarter of 2024.
Whereas Africa accounted for 22.76 p.c of complete capital inflows into Nigeria, the report highlighted vital contributions from different continents, particularly Europe, North America and Asia.
Europe remained Nigeria’s largest international capital contributor, pushed by inflows from the UK and the Netherlands.
The UK maintained its dominance with $502.6 million in Q3 2024, though this represents a big drop from the $1.12 billion recorded in Q2 2024.
The Netherlands additionally featured prominently, contributing $121.92 million within the third quarter of 2024.
Nevertheless, this fell sharply from $577.82 million within the second quarter of 2024, reflecting cautious funding traits.
From North America, the US confirmed regular development, recording $163.86 million in Q3 2024, up from $81.5 million in Q2 2024.
This displays elevated investor confidence in the US regardless of international financial uncertainty.
Whereas African flows declined, contributions from Asian nations have been extra pronounced within the third quarter of 2024, particularly from Saudi Arabia, China and Singapore.
Saudi Arabia emerged as a powerful contributor with $28.01 million, representing a 48.65 p.c decline from $54.55 million within the second quarter of 2024.
Inflows to China have been $9.58 million within the third quarter of 2024, down barely from $10.63 million within the second quarter of 2024, reflecting a decline of 9.88 p.c on a quarterly foundation.
Singapore, which contributed $5.63 million, additionally noticed a big decline from its Q2 2024 inflows of $13.49 million, which interprets to a 58.26 per cent decline.
The NBS report highlights a decline in complete international capital inflows into Nigeria in Q3 2024, totaling $1.25 billion, representing a 51.89 p.c decline from the $2.60 billion recorded in Q2 2024.
This decline highlights the sharp contraction in international investments regardless of the general annual enhance of 91.35 p.c from the third quarter of 2023.
Though Africa’s contribution to international capital flows to Nigeria stays vital, the decline in flows from Mauritius and South Africa has affected the continent’s total share.
In distinction, Europe and North America confirmed constant efficiency, strengthening their place as main sources of international capital in Nigeria.
The notable rise in contributions from Nigerian buyers additionally highlights rising native investor confidence, indicating a possible shift in capital dynamics within the nation.
(marks for translation) African buyers
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Enterprise, Enterprise & Economic system , Nationwide Bureau of Statistics
