Attracting and retaining FDI: Africa gas and oil sector

For some time, African governments have been aiming to attract investors to their gas and oil sectors to boost their economy. This literature review aims to provide an analytical conceptual-framework to outline various factors that African governments can utilize to attract and retain foreign investors. We performed a systematic literature review of related articles and reports published over two decades (2001-2020). We applied the foreign direct investment (FDI) theory and Dunning's (1979) Ownership, Location, Internalization (OLI) framework to capture the drivers of FDI in the African gas and oil industry. We then propose a conceptual framework that is centered on our analysis, comprising different barriers, drivers, mechanisms, and outcomes of FDI, which can be used by African governments to boost FDI inflows and scholars for further research. Finally, we suggest an empirical research idea for the future of African gas and oil sector.