Unlocking sustainable development: How foreign direct investment shapes Africa’s future
Posted: 15 August, 2024 Filed under: Elim Shanko, Khushi Agrawal | Tags: 2030 Agenda, 2063 Agenda, African Continental Free Trade Area, climate change, developing countries, environmental degradation, environmental protection, FDI, fighting poverty, Foreign direct investment, global plan, global well-being, human rights abuses, international cooperation, reducing inequalities, social inclusion, sustainable development, Sustainable Development Goals Leave a comment |
Author: Khushi Agrawal Intern, RA Consulting |
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Author: Elim Shanko Sustainable development consultant, RA Consulting |
Introduction
Foreign direct investment (FDI) is a critical method of shaping economic growth and development for developing countries.[1] While instances of cross-border capital flow aim to foster improvement, it is becoming increasingly apparent that FDI is not the significant beneficiary of sustainable development it was originally believed to be.[2] The United Nations’ 2030 Agenda of Sustainable Development Goals (SDGs) are nowhere near their desired or planned standings.[3]
This article critically examines the current state of FDI and its effects on Africa’s developing economy, uncovers the challenges foreign investment is facing and searches for potential steps forward in achieving sustainability goals.
AfricLaw 