Africa energy investment is projected to reach $110 billion in 2026, but the continent still attracts only 3.3% of global energy spending, according to the International Energy Agency (IEA).
What happened
In its World Energy Investment 2026 report, the IEA said Africa accounts for about 20% of the world’s population, yet receives a small share of global energy capital. Investment is concentrated in Nigeria, Algeria, Angola, Egypt and Libya, which together take about 70% of the continent’s total.
Upstream oil and gas investment in sub-Saharan Africa is expected to rebound by 12% to almost $24 billion in 2026, after an 18% decline in 2025. Nigeria is expected to remain among the main beneficiaries through ongoing LNG and offshore developments, even though spending among the region’s biggest producers has declined over a prolonged period.
Why it matters
Globally, the IEA expects energy investment to rise to a record $3.4 trillion in 2026. Africa’s slice of that is small compared with its population and its energy needs. The gap points to the scale of the challenge in power, gas and clean energy projects across the continent.
The concentration is also telling. With five countries taking most of the money, much of the continent depends on a limited pool of capital to expand electricity access and industry.
What to watch
Look for whether the rebound in upstream spending translates into new final investment decisions, and whether more investment reaches power and renewable projects outside the top five destinations.
Source: Arise News, citing the IEA World Energy Investment 2026 report.
