Between 2000 and 2024, China invested heavily in Africa’s energy sector, providing $66.1 billion in loans to fund oil, gas, electricity, and renewable energy projects across the continent. This makes China the largest external financier of Africa’s energy industry over the past two decades.

According to the Global Development Policy Center, these loans have supported a wide range of projects, including power plants, transmission networks, hydropower dams, and oil infrastructure. Beyond energy, China has issued over 1,300 loans worth $180.9 billion to African nations since 2000, funding infrastructure, mining, transport, and other economic development initiatives.

China’s financing strategy has strengthened its access to Africa’s natural resources, deepened trade relationships, and expanded its geopolitical influence. Its willingness to fund large-scale, high-risk projects especially in oil-rich and energy-poor countries has positioned it as a preferred partner for many African governments.

Top 10 African Countries Receiving Chinese Energy Financing

Angola – $27.3 billion across 41 loans, mainly for oil production and refinery projects backed by crude supply agreements.

South Africa – $4.5 billion for major electricity generation projects aimed at addressing chronic power shortages.

Sudan – $4.2 billion supporting oil export infrastructure, including pipelines and refineries.

Ethiopia – $3.4 billion for hydropower dams and electricity transmission, supporting its goal to become a regional energy exporter.

Zambia – $3.1 billion for hydropower and electricity infrastructure critical to mining operations.

Uganda – $2.6 billion to support oil development and electricity expansion.

Ghana – $2.3 billion for power plants and grid upgrades to stabilize electricity supply.

Equatorial Guinea – $1.8 billion targeting offshore oil production and export infrastructure.

Kenya – $1.8 billion to develop geothermal energy and strengthen its electricity network.

Côte d’Ivoire – $1.6 billion for thermal power generation and industrial energy projects.

China’s role in Africa’s energy sector stands out for its scale and strategic focus. As Western countries and Russia increase competition shifting toward renewable energy or nuclear partnerships – Africa is becoming a key battleground for energy investments that will shape the continent’s economic and geopolitical future.