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In 2020, construction work started on $17 billion of privately funded energy projects in Sub-Sahara Africa. Forty-four per cent of the projects were in Nigeria, followed by Angola with 14 per cent.
Top 5 Projects in East Africa East Africa has more than $435 billion of active projects, of which $221 billion are under construction. A...
West Africa has more than $380 billion of active projects, of which $230 billion is under construction. Oil and gas projects still account for the bulk of the construction activity in the region by value.
Cameroon has more than $10 billion of active projects, of which $3 billion is under construction. The population will increase by 27 per cent over the next decade, increasing demand for infrastructure.
There are currently more than $60 billion of active projects in Mozambique under threat due to security concerns in the country’s northern parts. Population growth exceeds 30 per cent over the next decade, which requires investment in infrastructure and developing the economy.
The DRC has more than $25 billion of active projects, dominated by the energy sector. Hydropower and solar projects are the key investment areas and can positively impact much needed economic development.
The UAE have more than $300 billion of active mega projects covering several sectors. The top 5 projects span transport, retail, leisure, power and petrochemical projects.
Algeria has more than $69 billion of active projects, of which $56 billion is currently under construction. The government is actively seeking to diversify the economy away from its reliance on hydrocarbons.
Saudi Arabia is aggressively working to diversify away from its reliance on hydrocarbons. There are more than $1.6 trillion of active projects in the kingdom, many of them megaprojects worth hundreds of billions.
Diversifying Angola’s economy away from its reliance on oil revenues is a priority for the government. More than $22 billion of projects in Angola is under construction, with another $40 billion on the drawing board.