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.
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.
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.
In 2018, the UN estimated that 53 per cent of Sub-Sahara Africa’s population do not have access to reliable power. More than $75 billion per year should be invested in power generating capacity to meet a fast-growing population’s power needs.
ABiQ has managed to put forward projects seeking more than $280 million in funding. The projects selected are diverse and cover the agriculture, real estate, energy and renewable energy sectors.
Sub-Sahara Africa’s population will grow by more than 26 per cent over the next decade. There are more than $88 billion of power projects under construction to meet ever-increasing power demand.
Sudan will need 5 Gigawatt of power generating capacity over the next decade to achieve a 100 per cent access to power rate. Active power projects in Sudan amount to more than $1.4 billion.
With close to $25 billion of active power projects, Morocco has long been a renewable energy leader in Africa. One of the few countries where 100 per cent of the population has access to stable power.
North Africa has more than $145 billion of active energy projects with Egypt, accounting for 46 per cent of the share followed by Algeria with 36 per cent.
The United Arab Emirates has more than $46 billion of active power Projects. ABiQ estimates the UAE will spend more than $3.8 billion during 2021, making it the largest spender on power projects in the Middle East and Africa.
The Kingdom of Saudi Arabia and the United Arab Emirates have combined more than $206 billion of active power Projects. ABiQ estimates these markets will spend more than $4.8 billion during 2021 on power projects.
With less than 40 percent of the population having access to reliable power and energy resources in abundance, Mozambique has more than $10 billion of power project on the table.
Rwanda has set 2024 as a target date to achieve 100 percent access to power for its population. There are currently more than $1 billion of active power projects in various stages of execution.
With a population set to grow by more than 25 percent over the next 10 years and ambitious targets of 100 percent access to power before then, East African governments are investing in power generation and distribution projects. ABiQ tracks more than $100 billion of active projects in East Africa.
A summary of the main topics discussed during ABiQ’s webinar on meeting Africa’s power demand over the next 10 years.
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