Top 10 African countries that attracted China’s $66.1 billion energy financing [2000-2024]

China has cemented its position as the dominant external financier of Africa’s energy sector over the past two decades, committing tens of billions of dollars to different sectors like oil production, power generation, and electricity transmission projects across the continent.

The energy push forms part of a much broader financing strategy. Overall, the report notes that China has issued 1,319 loans worth $180.9 billion to African countries since 2000, funding infrastructure, mining, transport, and power projects critical to economic growth.

These investments have helped Beijing secure access to strategic natural resources, deepen trade ties, and expand its geopolitical influence across Africa.

Russia, meanwhile, has focused on nuclear energy partnerships and upstream oil and gas development, positioning itself as an alternative strategic partner for African governments.

Beijing’s willingness to finance high-risk, capital-intensive projects particularly in oil-rich and energy-deficient nations, has made it the preferred partner for many African countries seeking rapid infrastructure development.

1. Angola — $27.3 billion (41 loans)

Angola dominates Chinese energy financing in Africa, receiving more than six times the amount of the next country. Most loans were tied to oil production and refinery infrastructure, often backed by crude oil supply agreements.

2. South Africa — $4.5 billion (3 loans)

China supported major electricity generation projects to help Africa’s most industrialized economy address persistent power shortages.

3. Sudan — $4.2 billion (21 loans)

4. Ethiopia — $3.4 billion (19 loans)

Loans funded hydroelectric dams and transmission lines, supporting Ethiopia’s ambitions to become a regional energy exporter.

5. Zambia — $3.1 billion (16 loans)

Financing focused on hydropower and electricity infrastructure critical for mining operations.

6. Uganda — $2.6 billion (7 loans)

Loans supported oil development and electricity expansion tied to Uganda’s emerging petroleum sector.

7. Ghana — $2.3 billion (14 loans)

China financed power plants and grid infrastructure to stabilize electricity supply.

8. Equatorial Guinea — $1.8 billion (8 loans)

Funding focused on offshore oil production and export infrastructure.

9. Kenya — $1.8 billion (14 loans)

10. Côte d’Ivoire — $1.6 billion (5 loans)

Loans financed thermal power generation and industrial energy infrastructure.

China’s dominance in African energy financing highlights its strategic focus on securing long-term resource access and strengthening economic ties.

As Western and Russian competition intensifies, Africa’s energy sector is emerging as a key geopolitical battleground shaping the continent’s economic future.