JOHANNESBURG (Reuters) – South Africa recorded 557.9 billion rand ($35 billion) of foreign direct investment inflows in the third quarter of this year versus inflows of 17.4 billion rand in the second quarter, central bank data showed on Wednesday.
The central bank said its December Quarterly Bulletin that the large inflows were due to technology investor Prosus buying about 45% of its South African parent Naspers.
Portfolio investments, reflecting a record of buying and selling of securities such as bonds and shares, saw outflows of 370.9 billion rand in July-September compared to outflows of 0.1 billion rand in the prior quarter.”
“Substantial net sales of equities of 362.0 billion rand in the third quarter of 2021 can, among others, be attributed to non-resident investors exchanging shares held in Naspers Ltd for Prosus N.V. shares,” the central bank said.
($1 = 16.0879 rand)
(Reporting by Olivia Kumwenda-Mtambo; Editing by Emma Rumney)
