Turkish firms undertake over $85 billion projects in Africa
Post By Diaspoint | January 16, 2024
Companies from Türkiye have undertaken tens of billions of dollars worth of infrastructure and superstructure projects in Africa, cementing their rapid expansion in the continent in a drive that has been creating hundreds of thousands of jobs.
The contracting firms completed 1,864 projects across Africa worth $85.4 billion (TL 2.57 trillion) as of the end of 2023, according to data from the Foreign Economic Relations Board of Türkiye (DEIK).
Turkish companies’ investments across the continent exceed $10 billion, and their firms employ more than 100,000 Africans.
Türkiye’s engagement with the African continent has been gaining pace over the years. Since taking office nearly two decades ago, first serving as prime minister, Erdoğan has been fostering ties with the continent, presenting Türkiye as a fairer player than the continent’s former colonial powers.
The diplomatic push has seen Türkiye’s trade volume with Africa surge to nearly $41 billion as of the end of 2022, from as low as $5.4 billion in 2003. The figure is projected to hit $50 billion in 2023.
The government’s priority to engage with Africa has helped facilitate the growth of business and trade relations. It came with a strong commitment focused on direct aid, infrastructure, transportation projects and mutually beneficial economic partnerships.
Major Turkish construction companies in Uganda, Polat Yol and Yapı Merkezi have undertaken megaprojects.
Polat Yol won a civil works contract to upgrade the 92-kilometer (57-mile) Muyembe-Nakapiripirit Road, linking Uganda to Kenya, South Sudan and Ethiopia.
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