The African Export-Import Bank and the African Petroleum Producers’ Organisation have formally established the Africa Energy Bank, according to a statement from Afreximbank on Saturday.
The bank, which has authorised capital of $5 billion (R84bn), aims to bridge a financing gap as traditional lenders withdraw funding from fossil fuels, even as oil and gas remain central to Africa’s energy systems.
• The bank’s inaugural general meeting, held in Abuja, Nigeria, appointed Helmy Ghazi as its first president and formed its first board of directors
• The continent’s energy investment needs are estimated at $200bn, according to the announcement
• The bank will support projects across the energy value chain, including exploration and production, refining and distribution
• Reuters reported in February 2025 that the bank was targeting a mid-year 2025 launch, with South Africa indicating interest in joining despite not being an APPO member
• The bank would target an asset base of $120 billion.
- The Africa Energy Bank has been established by the African Export-Import Bank and the African Petroleum Producers' Organisation with an authorised capital of $5 billion.
- Helmy Ghazi was appointed as the first president during the bank's inaugural general meeting held in Abuja, Nigeria, where its first board of directors was also formed.
- Africa's energy investment needs are estimated at $200 billion, and the bank aims to address financing gaps as traditional lenders reduce fossil fuel funding.
- The bank will support projects throughout the energy value chain, including exploration, production, refining, and distribution.
- The bank is targeting an asset base of $120 billion and aims for a mid-2025 launch, with South Africa showing interest in joining despite not being an APPO member.
The African Export-Import Bank and the African Petroleum Producers' Organisation have formally established the Africa Energy Bank, according to a statement from Afreximbank on Saturday.
The bank, which has authorised capital of $5 billion (R84bn), aims to bridge a financing gap as traditional lenders withdraw funding from fossil fuels, even as oil and gas remain central to Africa's energy systems.
• The bank's inaugural general meeting, held in Abuja, Nigeria, appointed Helmy Ghazi as its first president and formed its first board of directors
• The continent's energy investment needs are estimated at $200bn, according to the announcement
• The bank will support projects across the energy value chain, including exploration and production, refining and distribution
• Reuters reported in February 2025 that the bank was targeting a mid-year 2025 launch, with South Africa indicating interest in joining despite not being an APPO member
• The bank would target an asset base of $120 billion.
