France looks to increase South African FDI

Airports Company of South Africa (ACSA) will reportedly received a "substantial" concessional loan of more than ZAR1 billion (USD 145 million) for the refurbishment of Cape Town International Airport (Business Day, 03-Mar-2011). The funds, which will come from France, will be used the funds to refinance and lower the cost of loans. France has reportedly stated it plans to increase its foreign direct investment in South Africa over the next five years by ZAR10 billion. A final figure is only expected following South African President Jacob Zuma's meeting with French President Nicolas Sarkozy.