Afreximbank and APPO launch Africa Energy Bank in Abuja
The new supranational financial institution has an authorised capital of US$5 billion to support energy projects across the continent.
The African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organisation (APPO) have announced the establishment of the Africa Energy Bank (AEB), according to the Tripura Star News.
The announcement occurred during the inaugural general meeting of the AEB held in Abuja, Nigeria, on 31 October 2026.
The AEB will function as an independent, supranational pan-African financial institution with an authorised capital of US$5 billion.
The bank intends to bridge a financing gap as the continent's energy investment requirements are estimated at US$200 billion.
The institution will support various projects in the energy value chain, including exploration, production, transportation, processing, refining, and distribution.
The AEB aims to strengthen productive capacity, decrease dependence on imported petroleum, and encourage intra-African trade in energy goods.
Resolutions from the first general assembly included the appointment of Helmy Ghazi as the inaugural President of the bank.
The bank will also form its first Board of Directors, consisting of members from the private and public sectors and policy institutions.