Foreign direct investment (FDI) in Africa continues to generate hopes, but the reality appears less favorable. According to UNCTAD, these investments hover around 50 billion dollars per year, a stable figure that does not reflect the desired growth dynamics.

In an analysis published in Jeune Afrique, Aurélie M'Bida emphasizes that the discourse surrounding a "great return" of investors to Africa deserves to be nuanced. Despite promises of post-Covid economic recovery, the continent struggles to attract significant capital. The figures reveal stagnation that highlights the structural challenges Africa faces.

Indeed, the Covid-19 pandemic has exacerbated existing economic problems. A previous report from LE JOURNAL.AFRICA indicated that Africa was the continent with the lowest growth in 2021, despite a global recovery. Major powers and international institutions struggle to provide sufficient support to finance effective recovery plans.

The situation is even more concerning in the private sector. As reported in an earlier article, African companies need a conducive environment to grow and attract investments. However, missing infrastructure and legal insecurity continue to deter potential investors.

Furthermore, the contribution of businesses to economic recovery remains limited. At the annual CIAN Forum held on July 1, 2021, the theme discussed was "The Contribution of Businesses to Economic Recovery." The discussions highlighted the crucial role the private sector plays in financing the necessary infrastructure for the continent's development.

The challenges are numerous: the increasing debt of African states and global economic uncertainties make the situation even more complex. Private investors are therefore seen as essential to finance critical infrastructure projects, as indicated by a recent report on infrastructure financing in Africa.

In this regard, the "myth" of the massive return of FDI could be a call to rethink strategies for attracting foreign capital. It is essential for African governments to adopt more business-friendly policies to create a climate of trust and encourage sustainable investments.

In conclusion, while optimism is necessary to envision Africa's economic future, it is equally crucial to maintain a realistic view of the current situation regarding foreign direct investment on the continent.