LAGOS, November 2, 2026 — The African Export-Import Bank [Afreximbank] and the African Petroleum Producers’ Organisation [APPO] have formally established the Africa Energy Bank [AEB] to help address the continent’s growing energy financing needs.
The announcement was made on Sunday during the AEB’s inaugural general meeting held in Abuja, Nigeria.
The establishment of the bank reaffirms African governments’ determination to secure the continent’s energy future at a time when increased investment in energy generation and transmission is needed to accelerate industrial growth and harness opportunities arising from emerging technologies, particularly artificial intelligence [AI].
Africa’s energy investment needs are estimated at US$ 200 billion, while traditional providers of short- and long-term financing to the continent’s energy sector are increasingly withdrawing funding from fossil fuel projects, even as oil and gas remain important to Africa’s energy systems.
The AEB is expected to help bridge this financing gap while supporting a just energy transition tailored to the needs of African countries.
With authorised capital of US$ 5 billion, the bank will finance projects across the energy value chain, including exploration and production, transportation, processing, refining and distribution.
The investments are expected to strengthen Africa’s productive capacity, reduce reliance on imported petroleum products and promote intra-African trade in energy goods.
The bank’s mandate also includes promoting greater African participation in the continent’s energy sector, with the aim of ensuring that Africa’s energy future is shaped and financed by Africans.
The AEB will operate as an independent, supranational, pan-African financial institution and seek to mobilise investment from governments, national oil companies, financial institutions and private investors to support energy development across the continent.
Resolutions adopted at the inaugural general meeting included the appointment of the bank’s first president, Helmy Ghazi, and the formation of its first Board of Directors.
The board comprises representatives from the public and private sectors, as well as leading policy institutions from across Africa.
https://thecooperator.news/appo-sg-ghezali-to-address-aew-2026-as-african-energy-bank-nears-launch/
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