Nigeria is the most populous country in Africa and the largest GDP. Yet, more people live below the poverty line, 83 million, than the total population in any other African country, except for Egypt, Ethiopia and the DRC.
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.
By comparison, Ghana is has one of the most active construction markets in Africa. There are more than $40 billion of active construction projects of which more than 40 per cent is transport infrastructure.
Tanzania's population will increase by 17 per cent over the next ten years to 69 million. Economic development, and subsequently infrastructure development, is a crucial priority for the government. There is $62 billion of active projects in Tanzania.
Ethiopia is the second-most populous country in Africa and will grow by more than 25 per cent over the next decade. At present, Ethiopia has more than $31 billion of active projects, of which more than $18 billion is under construction.
Senegal has close to $20 billion of active projects. Excellent ICT infrastructure enables Senegal to position itself as a leader in the region with billions of foreign direct investment into critical sectors.
Saudi Arabia's population will increase by 4 million people over the next ten years. The country is investing heavily in critical infrastructures such as water and power. There are more than $5.5 billion of water projects currently under construction.
Africa has 15 per cent of the world's population but consumes only 3 per cent of its energy while it produces 12 per cent of the world's energy. There are more than $340 billion of active oil and gas projects in Africa.
The healthcare sector in Africa is straining under the mense pressure brought on by COVID-19. Africa has to invest billions in developing its healthcare infrastructure, educate and train thousands of specialists to serve its rapidly growing population.
South Africa has a population of close to 60 million and has the second-largest economy in Africa. It has more than $190 billion of active projects, of which $81 billion is now under construction.
Significant population growth is driving the Egyptian government to promote investment in all sectors of the economy. Egypt is the largest construction market in Africa, with more than $350 billion of active projects.
Kenya has a rapidly growing population and a significant shortage of housing. There is more than $47 billion of projects under construction that includes four mega real estate developments.
Nigeria has more than $160 billion of projects currently under construction. The top 5 projects consist of three refineries and two railway projects with a combined estimated cost of $54 billion.
Since Africa has a booming population and low access to power rates, providing power to all Africans is critical. Hydropower still provides the lowest Levelized cost of energy (LCOE). Therefore, the African continent is investing more than $83 billion in Hydropower projects.
Africa's population will exceed 2.5 billion by 2050. Power is a key issue since less than 50 per cent of the people in sub-Sahara Africa has access to reliable power. At the moment, there are roughly $400 billion of active power projects in Africa.
Rapid population growth and vast natural resources drive investment in Africa's transport infrastructure, with $22 billion of projects currently being tendered.
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