Space in Africa, a specialized consulting and media firm offering data-driven insights for success in the African space industry, has published its 2024 African Space Budget Analysis Report. This comprehensive report consolidates the annual space program budgets of African governments, examining the factors that shape budgetary decisions, including technological priorities and strategic national goals.
2024 space budget overview
According to Space in Africa’s analysis, African countries have earmarked USD 465.34 million for their space programs in 2024. This figure represents a significant 27.86% reduction from the revised 2023 allocation of USD 643.13 million. The total includes statutory allocations to national space programs and, for the first time, contributions from the African Union to support its newly established African Space Agency.
Factors influencing the budget decline
Several factors contributed to the reduced 2024 budget for African space programs. The primary cause is the depreciation of local currencies, which led to a year-on-year decline in absolute dollar value. Countries like Kenya, Zimbabwe, and Nigeria saw their space budgets shrink in USD terms, despite maintaining or increasing their allocations in local currencies, due to severe currency devaluations.
Long-term investment in African space programs
The report highlights that between 2018 and 2024, African governments have allocated over USD 3.1 billion for space programs. This figure covers the administration of governmental space institutions and expenditures for certain capital projects. However, it excludes other significant capital expenditures such as the acquisition of large communications or reconnaissance satellites, which are often not part of the national appropriation bills. Additionally, funds from local and international grants and private sector investments in space activities are not included, suggesting that actual investment in Africa’s space sector over the past seven years far exceeds USD 3.1 billion.
Strategic Insights from space in Africa
Wale Adelanwa, Senior Analyst at Space in Africa and lead author of the report, emphasized the report’s importance beyond just providing data. “The 2024 African space budget analysis report is a crucial tool that underscores the role of the space industry in Africa’s sustainable development journey. It offers actionable insights and strategic recommendations that resonate with stakeholders in both the public and private sectors.”
Importance of space investment for Africa’s development
Mustapha Iderawumi, Senior Analyst at Space in Africa and co-author of the report, stressed the significance of analyzing the allocated resources and strategies of national space programs. “As more countries join the global space endeavor, understanding how space investments can optimize progress towards development objectives in Africa is increasingly vital.”
Space programs as catalysts for economic growth
Victor Oluniyi, Data Analyst at Space in Africa and co-author, noted the broader implications of investing in space programs. “African countries’ investment in space is an investment in the continent’s prosperity and global competitiveness. Proper appropriation of government resources in space initiatives can serve as a catalyst for economic growth, technological advancement, and security enhancements.”
