October 26, 2018 / 3:37 PM / 25 days ago

McDonald's to invest $205 million in South Africa over next five years

FILE PHOTO - The logo of a McDonald's restaurant is seen in Bordeaux, France, June 18, 2018. Picture taken June 18, 2018. REUTERS/Regis Duvignau

JOHANNESBURG (Reuters) - U.S. fast-food giant McDonald’s Corp will invest 3 billion rand ($205 million) in South Africa over the next five years, the company said on Friday.

The announcement was made at a conference to drum up investment in Africa’s most industrialized economy.

($1 = 14.6144 rand)

Reporting by Ed Stoddard and Alexander Winning; Editing by James Macharia

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