Chinese Revenue From Africa Projects Plunges Over 30% Since 2015 Due to Lending Concerns

Chinese revenue from projects in Africa has fallen by over 30% since 2015 to $37.84 billion in 2022. Africa now makes up 19.4% of global revenue vs 38.9% in 2010.

Lending concerns and fewer projects have led to the revenue decline. Chinese loans to Africa dropped from over $10 billion annually in 2012-2018 to under $1 billion in 2021.

5 African countries (Nigeria, Angola, Algeria, Egypt, DR Congo) account for 41% of Chinese companies' Africa revenue. Nigeria is the biggest at $4.59 billion in 2022.

The current low revenue situation is the "new normal" due to more conservative Chinese lending and debt sustainability concerns in Africa.

Africa remains attractive for Chinese firms due to higher returns from non-competitive bidding, and opportunities in infrastructure, mining, agriculture.