The African Energy Bank is set to tackle the challenges of energy financing across the continent.
Scheduled to launch in the first half of 2025, the African Energy Bank—developed through a partnership between Afreximbank and the African Petroleum Producers Organization (APPO)—aims to overcome major hurdles related to financing, technology, and market reliability in order to accelerate the development of Africa’s oil and gas sector.
Omar Farouk Ibrahim, Secretary General of APPO, confirmed that the launch will proceed on schedule and stressed the urgent need for the bank’s establishment to meet the continent's growing energy demands.
With an initial capital of $5 billion, the bank has already allocated $1.5 billion to APPO member states. Its primary focus will be financing oil and gas projects, trade, and risk management.
Countries such as Ghana, Nigeria, and Angola have already voiced support for the bank's objectives, while the Republic of Congo has purchased shares worth $83.33 million, signaling its strong commitment to the bank’s mission.
