Africa attracted $70 billion in foreign direct investment in 2025, down from the exceptional $94 billion recorded a year earlier. But the decline masks a bigger shift in where investors are placing their money.
•Business Insider Africa presents the top 10 African countries that attracted the most foreign investment.
•Africa attracted $70 billion in foreign direct investment in 2025.
•The list is courtesy of UN Trade and Development.
Africa attracted $70 billion in foreign direct investment in 2025, down from the exceptional $94 billion recorded a year earlier. But the decline masks a bigger shift in where investors are placing their money.
According to UN Trade and Development, capital is increasingly flowing toward the sectors shaping the global economy, from energy and infrastructure to critical minerals, manufacturing and technology.
A handful of African countries captured a significant share of that investment, with natural resources and large-scale projects driving some of the biggest gains. Here are the 10 African countries that attracted the most FDI in 2025.
1) Egypt
Egypt attracted about $15.45 billion in foreign direct investment in 2025, making it Africa’s largest FDI recipient for the year. While this represented a decline from the exceptional level recorded in 2024, when the Ras El-Hekma construction and real estate megaproject significantly boosted inflows, underlying investment into Egypt actually strengthened. Excluding the 2024 megaproject, FDI inflows increased by about one quarter in 2025. The improvement was supported by the $3.5 billion Alam El-Roum deal. Egypt’s performance helped North Africa remain a major destination for international capital despite the region’s overall FDI inflows falling 56% to about $22 billion.
2) Guinea
Guinea attracted about $7.76 billion in FDI in 2025, making it Africa’s second-largest recipient after Egypt. Inflows jumped more than fivefold from approximately $1.7 billion in 2024, reflecting the growing importance of the country’s natural resources to international investors. The surge was driven primarily by mining projects focused on bauxite and iron ore. The investment highlights Guinea’s expanding role in global mineral supply chains, particularly as demand for critical and industrial minerals grows. The country was also a major driver of stronger FDI performance across West Africa, where investment increased in several economies on the back of natural resources and energy projects.
3) Mozambique
Mozambique received about $5.69 billion in FDI in 2025, the third-highest total among African countries in the ranking. The country dominated investment into Southern Africa, accounting for roughly 70% of the sub-region’s total FDI. Inflows reached their highest level in at least five years, driven largely by major projects in hydrocarbons and liquefied natural gas. Mozambique’s strong performance reflects the continued importance of its energy resources to international investors. The country was one of the main contributors to Southern Africa’s FDI performance in 2025, as investors continued to target large-scale energy and resource projects across the region.
4) Nigeria
Nigeria recorded about $4.05 billion in FDI in 2025, marking a significant turnaround after three consecutive years of declining inflows. Investment more than tripled during the year, reflecting a shift in investor activity following changes in the country’s policy direction. According to the supplied data, the increase was supported mainly by oil and gas-related international project finance deals, including a major project valued at about $2 billion. Nigeria ranked fourth among African FDI recipients in 2025. Its recovery contributed to stronger FDI performance across West Africa, where investment was supported largely by natural resources and energy-related projects.
5) Ethiopia
Ethiopia attracted about $3.8 billion in FDI in 2025, leaving inflows largely unchanged from the previous year. Despite the relatively stable headline figure, the composition of investment showed signs of change. Ethiopia recorded a significant increase in greenfield investment projects, suggesting growing activity in new projects rather than simply maintaining existing investments. The country ranked fifth among Africa’s largest FDI recipients in 2025 and remained one of the leading destinations for international capital in East Africa.
6) Uganda
Uganda attracted approximately $3.36 billion in FDI in 2025, making it Africa’s sixth-largest recipient and one of the leading FDI destinations among African least developed countries. Investment was supported by projects in oil refining and battery storage, highlighting the growing importance of energy-related infrastructure to the country’s investment profile. Uganda’s performance also contributed to stronger FDI inflows across East Africa, where several economies benefited from investment in large projects, minerals, hydrocarbons and energy infrastructure.
7) Morocco
Morocco received about $3.34 billion in FDI in 2025, ranking seventh among Africa’s largest recipients. Investment was supported by the country’s continued diversification into manufacturing and the automotive sector. Morocco’s performance came as FDI inflows across North Africa fell sharply from the previous year, largely because of the exceptional impact of Egypt’s Ras El-Hekma megaproject in 2024. Despite that regional decline, Morocco continued to attract international investors through its expanding industrial base. Its manufacturing and automotive sectors remained important drivers of foreign investment, reinforcing the country’s position as one of North Africa’s more diversified destinations for international capital.
8) Kenya
Kenya attracted about $3.20 billion in FDI in 2025, ranking eighth among the African countries listed in the supplied data. The country was part of a broader East African investment trend in which several economies recorded strong or sustained inflows, supported by large projects and investment across key sectors.
9) Côte d’Ivoire
Côte d’Ivoire attracted about $2.26 billion in FDI in 2025, placing it ninth among Africa’s largest recipients in the supplied ranking. The country’s performance came amid stronger investment across several West African economies, where natural resources and energy were key drivers of capital inflows. The country ranked ahead of Ghana and recorded more than $2 billion in foreign investment during the year.
10) Ghana
Ghana received approximately $1.91 billion in FDI in 2025, ranking tenth among the African countries in the supplied list. Its performance came as FDI inflows increased in several West African economies, supported mainly by investment in natural resources and energy.
Business Insider Africa
