FDI inflows into Africa have experienced great changes since 2014，from remaining basically stable to a sharp decline. The shift of regional distribution between the North Africa and Sub-Saharan Africa presented the “on-off” posture. The shift of FDI inflows among five areas within Africa has been getting bigger. MNEs from developed countries continued to evacuate from Africa，while MNEs from developing countries continued to invest in Africa. Intra-Africa FDI has remained preponderant. Private equity has emerged as the main factors that drove large investments into Africa. The greenfield FDI has been the dominant way. Sectoral investment has still been concentrated in the services and manufacturing sectors. The basic position of China’s OFDI in Africa is good，while there is still great potential. The prospects of China’s FDI in Africa are promising，meanwhile the risks and challenges cannot be ignored. To expand and optimize China’s OFDI in Africa，we should promote the combination of the cooperation of infrastructure and industrial capacity while carrying out “10 major cooperation projects ”；expand new investment areas while consolidating the traditional areas；elaborate the leading and demonstration effect of major projects；improve the protection mechanism of investment benefit；regulate market competition order by coordinating the management；fulfill social responsibility and make positive propaganda.