The changing African investment landscape has become more attractive to foreign capital. Before the COVID–19 crisis, global foreign direct investment (FDI) slumped in 2018 for a third consecutive year to $1.3 trillion—down 13 per cent.77 Greenfield projects plummeted by 37 per cent, and mergers and acquisitions fell by 15 per cent. But in contrast, African FDI increased 11 per cent in 2018 (to $46 billion). The positive trend in Africa represented diversified investments and economic recovery in South Africa, one of the biggest continental economies.