Afreximbank and APPO Launch Africa Energy Bank in Abuja

The African Export-Import Bank and the African Petroleum Producers’ Organisation established the Africa Energy Bank during an inaugural general meeting in Abuja on October 31, 2026. The new independent, pan-African financial institution launched with an authorized capital of $5 billion to address a $200 billion energy financing gap resulting from declining international funding for fossil fuel projects.

The bank will finance the entire energy value chain, including oil and gas exploration, production, refining, and distribution. This strategy aims to reduce the continent's dependence on imported petroleum products and increase African ownership of its energy future while supporting a fair transition to cleaner energy.

During the meeting, members appointed Helmy Ghazi as the pioneer president of the institution and formed its first Board of Directors.