Who is financing Africa’s infrastructure development?

African infrastructure financing comes from national government budgets, institutions belonging to the Infrastructure Consortium for Africa (ICA), other public financiers and private investors. Their relative contributions changed considerably during 2021–2023.

A changing mix of financing sources

How to read the financing mix

The chart shows commitments by financing group, rather than funds actually disbursed. It highlights a greater reliance on national budgets after 2020 and a smaller combined share for ICA members and other international financial institutions than in 2019. This shift matters because public budgets face fiscal constraints even as infrastructure needs continue to grow.

Explore the four financing groups

ICA member institutions provide development financing across multiple infrastructure sectors. African governments allocate domestic public resources through national budgets. Other public financiers include non-ICA international and bilateral institutions. Private investors contribute capital, particularly to energy and transport projects. Each category is examined in a dedicated companion page.

Methodological note

The report primarily compares financing commitments because comprehensive disbursement data were unavailable across all sources. Commitments should not be equated with actual expenditure or completed infrastructure.