Public Management

Africa’s military spending sees sharp rise, fueled by North African arms race

Africa’s military spending sees sharp rise, fueled by North African arms race
Friday, 26 April 2024 12:20

Military expenditures on the continent have surged, with North Africa outpacing Sub-Saharan Africa, driven by the ongoing arms race between Algeria and Morocco.

Stockholm International Peace Research Institute (SIPRI) issued a report on April 22 revealing that the cumulative military spending by African countries reached $51.6 billion in 2023, up 22% from 2022.

Titled "Trends in World Military Expenditure 2023," the report highlights that North African countries spent $28.5 billion on their militaries in the past year, a 38% surge compared to the previous year.

Screenshot 20240425 142532 Samsung Notes

Algeria and Morocco accounted for 82% of the total military spending in the sub-region in 2023. The regional tensions stemming from the Western Sahara conflict, pitting Morocco against the Polisario Front independence movement backed by Algeria since 1975, have fueled a new arms race between these Maghreb nations.

In 2023, Algeria's military spending dropped by 7.6% to $18.3 billion, while Morocco saw a 2.5% decrease to $5.2 billion. Meanwhile, military expenditures in Sub-Saharan Africa rose by 8.9% in 2023, reaching $23.1 billion, driven by significant increases in Nigeria, the DRC, and South Sudan.

The report also notes that global military spending hit a record $2.443 trillion last year, a 6.8% increase from 2022. The largest year-over-year surge since 2009 was observed globally, with Europe, Asia, Oceania, and the Middle East experiencing substantial spikes amid heightened geopolitical tensions.

The United States, China, Russia, India, and Saudi Arabia were the top five spenders in the past year, collectively representing 60% of the world's military expenditures.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agenda IMF flags debt at 132% of GDP Senegal on...
Cameroon raised CFA1,318 billion on BEAC market in 2025 Interest rates climbed; subscription and coverage ratios fell 2026 plan targets CFA400 billion...
Senegal plans diaspora-focused real estate investment fund Remittances total 2.2 trillion CFA francs annually Fund aims to channel savings into rental...
Proparco grants €20 million guarantee to NSIA Bank Facility covers 50% of SME loan risk SMEs account for 67% of Benin GDP Proparco, the...
Most Read
01

ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...

ECOWAS Eco Currency May Launch Without WAEMU in 2027 Push
02

Algeria plans to launch construction of the $13 billion Trans-Saharan Gas Pipeline (TSGP) a...

Algeria–Morocco: Will the Gas Pipeline Duel Take Place? (Editorial)
03

Kenya raised $2.25B via dual-tranche Eurobonds to buy back 2028/2032 debt, luring investors w...

Africa’s Comeback on International Market: Kenya Adds-up to The 2026 Wave of Sovereign Issuances
04

Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...

Dangote Sets IPO Timeline for Its $20B+ Nigerian Refinery, Eyes Retail Investors
05

Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...

Guinea's Largest Gold Mine Records 6% Output Rise in 2025
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.