Foreign direct investment in SA made a significant recovery in 2018 after several years of lowlevel inflows, according to the latest UN world investment report.In contrast, investment in some of the other large recipients in the continent, including Nigeria, Egypt and Ethiopia, declined in 2018.The report, intended to support policymakers and help them make decisions by monitoring global and regional investment trends, states that investment flows in SA more than doubled to $5.3bn (R78.4bn) in 2018, but this was largely attributable to intracompany transfers by established investors.In 2018, President Cyril Ramaphosa set a target of luring investments of $100bn (R1.4trillion) by 2023 in an attempt to reignite economic growth, which has been falling far short of the 5.4% annual target set in the National Development Plan.According to the UN report, while investment in some large economies on the continent – like Nigeria and Egypt – contracted, this was outweighed by a surge in flows to others, most significantly SA.Overall, Africa escaped the global decline in investment as flows to the continent rose to $46bn (R680bn) in 2018, an increase of 11% from the previous year.Growing demand for some commodities and a corresponding rise in their prices as well as a growth in non-resourceseeking investment in a few countries underpinned the rise.According to the report, while investment in manufacturing and services is likely to be sustained, this is expected to be confined to a few countries in North and Southern Africa, and the emerging manufacturing hubs in East Africa.Multinational enterprises from developing countries are expanding their activities in Africa but investors from developed countries remained the key players, the report said.Based on recent data, France is the largest investor in Africa, although its stock of investment has remained largely unchanged since 2013.Next are the Netherlands, the US, the UK and China.Growing demand and a corresponding rise in the price of commodities are expected to prop up investment flows to the continent in 2019.Closer regional integration aided by the Continental Free Trade Area (CFTA) can also draw additional flows, according to the UN report.Intra-African trade remains low compared with other major regions in the world.In 2018, SA joined various other countries on the continent in signing the CFTA agreement, which aims to create a single continental market for goods and services, with free movement of business people and investments.With about 1.2-billion people on the continent, the CFTA is set to create one of the largest free-trade market zones in the world.The agreement came into force recently after being ratified by 22 countries on April 29, the requisite number for formally notifying the AU.UN Conference on Trade and Development secretarygeneral Mukhisa Kituyi said: “The African Continental Free Trade Area agreement will bolster regional co-operation.“This, along with upbeat growth prospects, augurs well for investment flows to the continent.”