Afreximbank, APPO Establish $5bn Africa Energy Bank In Abuja

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organisation (APPO) have formally established the Africa Energy Bank (AEB), with an authorised capital of $5 billion, to strengthen financing for the continent’s energy sector….

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organisation (APPO) have formally established the Africa Energy Bank (AEB), with an authorised capital of $5 billion, to strengthen financing for the continent’s energy sector.

The establishment was announced at the bank’s inaugural General Meeting in Abuja on Saturday, October 31, 2026.

The new institution is expected to finance projects across the energy value chain, including oil and gas exploration, production, transportation, processing, refining and distribution.

According to the promoters, the bank will strengthen African participation in the energy industry, reduce dependence on imported petroleum products and expand intra-African energy trade.

The Africa Energy Bank will operate as an independent, supranational pan-African financial institution, with plans to attract investments from governments, national oil companies, financial institutions and private investors.

The inaugural meeting also appointed Mr Helmy Ghazi as the bank’s first President and established its maiden Board of Directors.

The board comprises representatives from the public and private sectors, as well as leading policy institutions.

The establishment of the Africa Energy Bank comes amid growing efforts by African countries to mobilise domestic and continental financing for energy development, particularly as access to international funding for fossil fuel projects becomes increasingly challenging.

The institution is expected to provide a dedicated financing platform for African energy projects, support infrastructure development and strengthen the continent’s capacity to harness its natural resources.

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