According to a report by the United Nations Conference on Trade and Development (UNCTAD), foreign investment flows to Africa experienced a slight decline in 2023, with international project finance deals in African nations dropping by 50% to $64 billion. Despite this reduction, the continent saw a surge in the share of global greenfield megaprojects, with notable projects exceeding $5 billion each. One such significant project was a green hydrogen initiative in Mauritania, projected to attract $34 billion in investments, far surpassing the country's GDP. Additionally, Africa received over $10 billion in project finance for wind and solar electricity production, with major projects situated in Egypt, South Africa, and Zimbabwe. The region also attracted foreign investments in the electric vehicle industry, including a $6.4 billion investment in an electric vehicle battery manufacturing facility in Morocco. The top economies investing in Africa by foreign direct investment (FDI) stock include the Netherlands, France, the US, the UK, and China. Different regions in Africa experienced varying trends in FDI flows, with North Africa witnessing a 12% decrease and West Africa facing a 1% dip. Central Africa encountered a 17% decline in FDI, contrasting with the 56% rise in greenfield projects. East Africa saw a 3% decrease in FDI inflows but witnessed a significant increase in greenfield projects and international project finance deals. Southern Africa's investment landscape was influenced by fluctuations in Angola, with FDI inflows dropping by 43% in South Africa despite increased merger and acquisition activities. However, overall, FDI inflows have expanded for major regional groupings, notably the Economic Community of West African States (ECOWAS) and the Southern African Development Community (SADC), indicating positive growth prospects for the region.