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Africa a Hotspot for Oil Investment
With the price of oil having more than quadrupled since 2004, governments are negotiating more and more deals in oil-producing African states, now hotspots for foreign investments. African industries have historically been overlooked as potential investments because of political and economic instability on the continent, yet with African markets growing steadily, investors are seeing the continent as an attractive opportunity to capitalize on emerging industries and markets. Despite rampant poverty on the continent, especially in Sub-Saharan Africa, African investments in fact provide “the highest returns on foreign direct investment of any region in the world,” according to the World Bank.