Creation of the African Energy Bank to Boost Continental Energy Autonomy

The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organization (APPO) have officially established the African Energy Bank during a constitutive general assembly in Abuja, Nigeria. With an authorized capital of $5 billion, the new institution aims to fund the entire energy value chain, from exploration and production to processing and distribution. The initiative seeks to address a $200 billion funding gap in the sector, reduce reliance on fuel imports, and promote a fair energy transition. Helmy Ghazi has been appointed as the first president of the bank, which will operate as an independent, supranational entity tasked with attracting both public and private investment to secure Africa's energy future.