South Africa's FDI inflows slow in second quarter, central bank says
JOHANNESBURG, Sept 26 (Reuters) -South Africa recorded foreign direct investment inflows of 16.6 billion rand ($965.87 million) in the second quarter of 2024, down from 24.4 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 VIV.PA, made a firm cash offer of 125 rand per share for local broadcaster Multichoice MCGJ.J and built up its stake in the business.
Portfolio investments recorded outflows of 20.1 billion rand in April-June, compared to outflows of 52.0 billion rand in the first three months of this year.
($1 = 17.1866 rand)
Reporting by Kopano Gumbi
Editing by Alexander Winning
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