FX.co ★ South Africa Posts Largest FDI Outflow on Record

In the second quarter of 2025, South Africa experienced a net outflow of ZAR 73.5 billion in foreign direct investment (FDI), a significant shift from an inflow of ZAR 11.7 billion in the previous quarter, as reported by the central bank. This represents the largest outflow since records began in the first quarter of 1985, largely due to Anglo American's decision to divest its platinum unit, which now operates as Valterra Platinum. In contrast, there was a notable change in portfolio investments, which transitioned to inflows of ZAR 69.4 billion from outflows of ZAR 53.7 billion in the first quarter. This shift was primarily driven by the distribution of shares in Valterra Platinum to Anglo American's non-resident shareholders.