South Africa recorded foreign direct investment (FDI) flows of R53.8 billion ($2.8 billion) in the second quarter of 2023, up from R0.5 billion in the previous quarter. An increase which results from the acquisition of a drinks company by a non-resident company, in reference to the takeover of the South African spirits manufacturer Distell by the Dutch beer giant Heineken. This transaction, worth 2.2 billion euros ($2.3 billion), was finalized last April.

Source: Africa News Agency