South Africa attracted ZAR 11.7 billion in foreign direct investment (FDI) in Q1 2025—the highest level since Q2 2024—up from ZAR 7.5 billion in the previous quarter, according to central bank data. The increase was driven by non-resident parent companies boosting equity stakes in their domestic subsidiaries. On the other hand, portfolio investments shifted from inflows of ZAR 33.4 billion in Q4 2024 to outflows totaling ZAR 53.7 billion, mainly due to non-residents’ net disposal of domestic equity securities and the redemption of an international bond by a public corporation.
