A new report by the United Nations Conference on Trade and Development, (UNCTAD) forecasts a steep drop by up to 40 per cent in global trade, due to the Covid-19 pandemic that has affected the global economy.
This would bring foreign investment in Africa below $35 billion.
Released on June 16, the annual World Investment Report (WIR 2020) showed global investment continuing to nosedive below $1 trillion for the first time since 2005, a recession much worse than the 2008 financial crisis.
Africa, which accounts for less than 3 percent of the world's trade inflow in 2019, will see the second-largest decrease in foreign investment.
In terms of investment ties, the country posed an attractive posture by reaching a deal with Rosatom, a Russian company to set up a centre for nuclear science and technology.
