Between 2000 and 2024, China directed $66.1 billion in loans into Africa’s energy sector, funding oil and gas production, power generation plants, electricity transmission networks and renewable energy projects. Over the period, Beijing emerged as the continent’s largest external energy financier.
Data from the Global Development Policy Center shows that energy has been one of the biggest components of Chinese lending to Africa. Since 2000, China has issued 1,319 loans worth $180.9 billion across multiple sectors, including infrastructure, transport, mining and electricity — with energy accounting for a substantial share.
Beyond infrastructure delivery, the financing drive has supported China’s broader strategic objectives: securing access to natural resources, expanding trade partnerships and strengthening its geopolitical footprint across the continent. Beijing’s readiness to back capital-intensive and, in some cases, higher-risk oil, gas and power projects has distinguished it from many Western lenders, which have increasingly prioritised renewable energy and governance-linked conditions. At the same time, Russia has expanded its role in nuclear partnerships and upstream oil and gas development, adding another layer of competition in Africa’s energy landscape.
Chinese energy investments have spanned fossil fuels and renewables alike, positioning Beijing as a central player in Africa’s evolving power mix.
Top 10 recipients of Chinese energy loans (2000–2024)
1. Angola — $27.3 billion (41 loans)
Angola is by far the largest beneficiary, accounting for more than 40% of total Chinese energy lending to Africa over the period. Much of the financing supported oil production, refineries and export infrastructure, frequently structured around oil-backed repayment agreements.
2. South Africa — $4.5 billion (3 loans)
In South Africa, Chinese funding contributed to major electricity generation projects aimed at easing persistent power shortages in the continent’s most industrialised economy.
3. Sudan — $4.2 billion (21 loans)
Sudan used Chinese loans to expand its oil export capacity, including pipelines and refining facilities critical to its petroleum sector.
4. Ethiopia — $3.4 billion (19 loans)
Financing to Ethiopia largely supported hydropower development and transmission infrastructure, aligning with Addis Ababa’s ambition to become a regional electricity exporter. Projects include large-scale dams such as the Grand Ethiopian Renaissance Dam.
5. Zambia — $3.1 billion (16 loans)
In Zambia, Chinese capital backed hydropower stations and grid expansion, infrastructure considered vital to sustaining the country’s energy-intensive mining industry.
6. Uganda — $2.6 billion (7 loans)
Uganda secured loans to develop its emerging oil sector and expand electricity generation and transmission capacity.
7. Ghana — $2.3 billion (14 loans)
Chinese financing in Ghana focused on thermal power plants and grid upgrades aimed at improving electricity reliability.
8. Equatorial Guinea — $1.8 billion (8 loans)
In Equatorial Guinea, funding was concentrated in offshore oil production and related export infrastructure.
9. Kenya — $1.8 billion (14 loans)
Kenya benefited from support for geothermal energy projects and national grid expansion to strengthen power supply.
10. Côte d’Ivoire — $1.6 billion (5 loans)
Loans to Côte d’Ivoire were directed toward thermal power generation and industrial energy facilities.
China’s sustained role in financing Africa’s energy systems underscores its long-term strategy of combining infrastructure diplomacy with resource security. As competition intensifies among global powers, the continent’s energy sector is increasingly becoming a focal point of geopolitical and economic contestation — with infrastructure funding at the centre of that shift.