Despite disruptions from the COVID-19 pandemic, Africa began construction of projects worth more than $ 160 billion in 2021. The Export-Import Bank of China is financing projects worth more than $ 15 billion which began construction work in 2021.
Egypt is Africa's largest construction market, accounting for almost a third of projects launched in 2021. Nigeria, Morocco and South Africa followed Egypt in the ranking based on the value of construction projects launched in 2021.
The Export-Import Bank of China will provide funds for eight projects in 2021. The Lagos Calabar Coastal Railway is one of the largest railway projects in Africa with $ 11 billion. The bank is also financing the $3.1 billion Abuja Itakpe Lokoja Railway.
The African Development Bank is the second largest financier by value and the largest financier by the number of projects started in 2021. Redstone Solar CSP 100 MW in South Africa is one of the bank's largest solar projects, which started in 2021. It follows the Temane Regional Electricity Project in Mozambique with $ 543 million.
The third largest financier by value and second largest by number of projects in 2021 was the World Bank Group. The Temane power station in Mozambique, with an estimated cost of $ 720 million, is one of the largest projects the group is financing.