Africa continued to attract major foreign investment commitments in 2025 despite a sharp slowdown in global capital flows, with Uganda securing the continent’s second-largest announced greenfield project as investors doubled down on energy, manufacturing, mining and industrial development.
The latest United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2026 shows that while the total value of announced greenfield investment projects in Africa fell by nearly one-third compared with 2024, the number of projects actually increased.
The trend points to a shift from a few mega-projects towards a broader pipeline of smaller investments across the continent.
Nevertheless, mega-projects continued to dominate investment values. According to the report, the 10 largest foreign-backed projects accounted for about 40% of the total value of all announced greenfield investments in Africa during 2025.
Uganda emerged as one of the continent’s biggest winners after UAE-based Alpha MBM Investments announced a $4 billion investment in the country’s oil and gas sector.
Ranked second among Africa’s largest investment announcements, the project reinforces Uganda’s ambition to become one of Africa’s newest crude oil exporters as development of its petroleum industry gathers momentum.
Only Ghana attracted a larger single investment, with Qatari conglomerate Al Jedad Holding unveiling a $5 billion chemicals project, making it Africa’s biggest announced greenfield investment in 2025.
Ethiopia also featured prominently with two major projects. Nigeria’s Dangote Group announced a $3 billion chemicals investment, making it the only African-owned company among the continent’s top 10 investors, while Hong Kong-based Golden Concord Holdings committed $2.5 billion to an oil and gas development.
Mauritania secured a $3.1 billion renewable energy investment from Germany’s Möhring Energie Group, highlighting growing investor appetite for Africa’s clean energy potential.
Angola attracted two separate $2.5 billion oil and gas commitments from British energy giant BP and France’s TotalEnergies, underscoring continued confidence in the country’s offshore hydrocarbon resources.
Morocco strengthened its position as a leading automotive manufacturing hub after Stellantis announced a $1.5 billion investment in vehicle production, while Zambia received a $1.1 billion oil and gas commitment from China’s Fujian Xiang Xin Group.
The Democratic Republic of the Congo completed the top 10 list after Chinese mining company CMOC Group announced a $1.1 billion metals project targeting copper and cobalt, minerals that are increasingly critical to the global clean energy transition.
UNCTAD said the concentration of large investments in energy, chemicals, mining and manufacturing reflects Africa’s growing strategic importance in global industrial supply chains, energy security and the race to secure critical minerals.
Although overall greenfield investment values softened during the year, the report concludes that international investors continue to view Africa as a long-term destination for industrial expansion and infrastructure development, particularly in resource-rich economies and emerging manufacturing centres.