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Space in Africa Releases its 2024 African Space Budget Report

Space in Africa
Credit: Space in Africa

Ibaadan, 4 June 2024. – Space in Africa has released its 2024 African Space Budget Analysis Report, aggregating annual budgets by African governments for space programs. The report also explores the factors influencing budgetary decisions, including technological priorities and national strategic objectives.

Space in Africa’s analysis showed that in 2024, African nations budgeted USD 465.34 million for their space programs, a 27.86% decrease from 2023’s revised allocation of USD 643.13 million. The amount comprises statutory allocations to individual national space programs and, for the first time, contributions from the African Union to operationalize the African Space Agency (AfSA).

Several factors contributed to the decline in the space budget aggregate, with the weakness in local currencies being the primary reason for the YoY decline in absolute dollar value. Despite maintaining or increasing budget allocations in local currencies, countries like Kenya, Zimbabwe and Nigeria’s space budgets declined YoY in USD due to steep local
currency devaluations.

Additionally, African governments have budgeted over USD 3.1 billion between 2018 and 2024 for space programs, including the administration of government space institutions and expenditures for some capital projects. However, the budget aggregate excludes other capital projects, such as acquiring large communications satellites. Likewise, expenditures from local and international grants for space activities and private-sector funding are not included. As a result, Africa’s investment in space in the last seven years far exceeds USD 3.1 billion.

Speaking on the report, Wale Adelanwa, Senior Analyst at Space in Africa and the report’s lead author, said “The 2024 African space budget analysis report provides more than just data. It’s an important tool that emphasises the role of the space industry in Africa’s journey towards sustainable development. It offers actionable insights and strategic recommendations that resonate with stakeholders in the public and private sectors.”

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