($1 = 17.8473 rand) (Reporting by Kopano Gumbi and Nellie Peyton; Editing by Olivia Kumwenda-Mtambo)
JOHANNESBURG, March 31 (Reuters) - South Africa recorded
foreign direct investment inflows of 67 billion rand ($3.75
billion) in the fourth quarter of 2022 compared to inflows of
11.9 billion in the third quarter, central bank data showed on
Friday.
The South African Reserve Bank (SARB) said in its Quarterly
Bulletin the rise in investments was as a result of a
non-resident parent company in the commerce sector increasing
its equity investment in a domestic subsidiary.
The central bank added that a domestic company in the
telecommunications sector also issued shares to its parent
company to finance the acquisition of a foreign company.
South African telecoms operator Vodacom in December
completed the acquisition of a 55% stake in the Egyptian arm of
parent company Vodafone .
Portfolio investments showed outflows slowed to 26.1 billion
rand in the fourth quarter of 2022, compared to outflows of 32.0
billion in the previous quarter.
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