Greenfield investment monitor fDi Markets has tracked a partial recovery in Africa-destined FDI during August 2013. The monitor tracked 52 projects in August, returning the number of tracked projects back to June levels after a 30% decrease in July. With the average number of projects tracked per month during 2013 standing at 56, August figures are only slightly below what could be expected. Capital expenditure, however, has failed to recover at the same pace, with a $1.73bn deficit in August compared with June. Conversely, the number of jobs created as a result of FDI significantly increased during August, rising to 7433 from 4988 in July.

The financial services sector has, for the first time in 2013, not been the sector that has attracted the most projects into Africa. Data from fDi Markets shows projects into the food and tobacco sector to have increased by 200% between July and August, with two more projects tracked in this sector compared with financial services. The increase in food and tobacco FDI has significantly contributed to job growth in Africa, resulting in the creation of 2201 new jobs during August, an increase from 321 the previous month.

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South Africa remained the most popular destination country for African-destined FDI during August, albeit with 46% fewer projects recorded. Kenya, while receiving fewer tracked projects than South Africa, has recorded a large surge in the amount invested. During August, capital expenditure amounts in Kenya increased by more than 4000% compared with June, reaching a total of $1.08bn. Kenya also generated the most new jobs among African countries from FDI during August, with 2340 created.

While fDi Markets has tracked 86 fewer projects with regard to Africa destined FDI when compared with the same period during 2012, capital expenditure levels have increased by $5.82bn.