South Africa's foreign direct investment (FDI) inflows rose to a five-year high of R70.7-billion ($4.9-billion) in 2018 from R26.8-billion the prior year, the central bank said on Wednesday, despite outflows in the final quarter of last year.

The 2018 FDI inflows were the highest since 2013, when the country recorded inward investment of R80.1-billion, the bank said.

Africa's most industrialised economy registered FDI outflows of R8.2-billion in the last three months of 2018 as South African subsidiaries repaid short-term loans to foreign parent companies, the South African Reserve Bank said in its quarterly bulletin.

Portfolio investment inflows fell to R90-billion in 2018 from R278.8-billion the previous year, with outflows of R33.9-billion recorded in the final quarter of 2018, the central bank said.