(Ecofin Agency) - Kenya is the African nation with the highest level of new projects funded with foreign direct investment (FDI) in 2015, a report published by Financial Times shows. 84 new projects were announced over the year, thus 47% more than in 2014.

East Africa’s top economy is followed by Ghana who recorded a 21% growth or 40 new projects.

Nigeria comes third with a 19% growth or 51 new projects funded with foreign capitals.

Egypt also recorded a modest growth (14%) in the number of new projects funded with foreign investments. Though modest, it still represents 59 projects.

In terms of value, Egypt, in Middle East and Africa, is the nation which has captured the most foreign direct investments for new projects, totalling $14.5 billion. However, this su mis 19% lower than what the country received in 2014.

Nigeria was second in terms of monetary value with $8.8 billion.

Morocco had $4.6 billion and Cote d’Ivoire, first among French-speaking countries from sub Sarahan Africa, got $3.5 billion of foreign investments.

Financial Times’ ranking just like UNCTD (UN Conference for Trade and Development) tends to present to show shifts in foreign direct investments worldwide, only that, FT’s focuses on new projects that attracted these investments. 

Considering this, concerns arise over some data. Truly, number of new projects were funded in the the fossil energies sector across Africa, in Angola, Uganda, or Mozambique namely. This goes against the commitment to bring global warming down taken in Paris at the recent COP 21 talks in December 2015 and then again in April 2016 in New-York.

Idriss Linge