The African construction industry is expected to grow at a compound annual growth rate (CAGR) of 5.2% between 2021 and 2026. The industry was valued at $104.3 billion in 2020 and is expected to reach $135.3 billion by 2026. The growth is driven predominantly by infrastructure development, increasing demand for housing, urbanisation, and investment in energy and utility projects. Key markets in the region include South Africa, Nigeria, Kenya, and Ethiopia, which are undergoing major infrastructure development and renovation projects. 

South Africa is one of the largest and most developed construction markets in Africa, accounting for 28.2% of the total market share. Ghana is estimated to contribute approximately 7% and is a key player in the Western African region. The industry is also a major source of employment in the country, employing over 700,000 people. Kenya is one of the key players in the East African region and is expected to continue to grow having an estimated value of $16.6 billion in 2021. Cote d'Ivoire is focused on improving the country's infrastructure, including transportation, energy, and housing, to boost economic growth and attract foreign investment. The International Finance Corporation (IFC) is providing immense support to Senegal's construction sector through various initiatives considering its potential for growth. However, Nigeria may outperform all of these in terms of construction, as it is said to have the 3rd largest construction industry in the world, behind India and China.

The institutional and residential segments in Africa are expected to grow the fastest in the coming years. Foreign investment in the African construction industry has been increasing with China, Europe, and the United States among the top investors. In recent years, there has been a trend towards sustainability and eco-friendly construction practices, as well as the use of technology and innovation to improve efficiency and competitiveness.