🌍 China vs. America: Who's Investing More in Africa?

What We’re Showing:

This chart tracks foreign direct investment flows in USD billions from the U.S. and China to Africa between 2003 and 2022.

Data is sourced from the China Africa Research Initiative at John Hopkins School of Advanced International Studies

ℹ️ U.S. flows to eight African countries are not included by the source, to protect commercial data of individual companies.

Key Takeaways

While U.S. foreign investment to Africa has declined steadily since 2010, China has more or less sustained its flows to the continent.

The nature of FDI in Africa has changed however. Earlier greenfield investment from both countries poured into extractive industries like oil & gas and mining.

Since 2016, smaller capital flows have targeted agriculture, light manufacturing, and services.