JOHANNESBURG, Sept 26 (Askume) – Foreign direct investment inflows stood at 16.6 billion rand ($965.87 million) in the second quarter of 2024, down from 24.4 billion rand in the first quarter, special data from the South African central bank showed.
The South African Reserve Bank said in its quarterly report that this investment was primarily due to an increased equity investment by a non-resident company in a domestic broadcaster.
In the second quarter, Canal+, owned by French media group Vivendi (VIV.PA) , made a cash offer of R125 per share to local broadcaster MultiChoice (MCGJ.J) and increased its stake in the business .
Portfolio investment outflows were R20.1 billion between April and June, compared with R52 billion in the first three months of the year.
(1 USD = 17.1866 Rand)
