Despite Africa’s massive energy potential, its population’s electricity demand is not being met. However, the continent’s energy landscape is changing rapidly, thanks in large part to China.
A November 2023 report by the prominent Africa-China researcher Oyintarelado Moses for the Carnegie Endowment for International Peace shows that China was by far the largest funder of African energy. At $53.4 billion provided between 2012 and 2021, China outspent the World Bank ($35.13 billion.)
The study considered data from 2012 to 2021 and captures crucial dates that impact the amount of finance and energy sources that received finance.
The 2012–2021 period includes, for example, the post–global financial crisis era, the signing of the Paris Agreement in 2015, the announcement of China’s Belt and Road Initiative in 2013, and the start of the COVID-19 pandemic in 2020. This period reveals significant trends in energy finance to Africa that could predict where finance could go in the future.
Source: China Global South Project. https://chinaglobalsouth.com/…/most-of-africas-energy…/
Most of Africa’s Energy Financing Comes from China: Report
Despite Africa’s massive energy potential, its population’s electricity dema
China Environment News 