African Energy Bank Launch Date to Be Finalized at Next APPO Ministerial Meeting
During the opening ceremony of the AOG 2025 conference held this Wednesday, Omar Farouk Ibrahim, Secretary-General of the African Petroleum Producers Organization (APPO), announced that the launch date for the African Energy Bank will be set at the organization’s next Council of Ministers meeting.
Driven by APPO and the African Export-Import Bank (Afreximbank), the African Energy Bank, with an initial capital of $5 billion, will be tasked with financing oil, gas, and infrastructure projects across Africa. Headquartered in Abuja, Nigeria, the institution aims to address the continent’s funding gap. Angola is among the countries that have already fulfilled the $100 million capital commitment.
“APPO is fully aware of the serious challenges affecting Africa’s oil and gas industry and is taking practical measures to address them. One such measure was taken in Luanda three years ago when the APPO Ministerial Council approved the signing of a Memorandum of Understanding with Afreximbank to establish the African Energy Bank. The next ministerial meeting of the APPO Council will set the official launch date for the bank,” declared Ibrahim.
In August 2025, APPO announced plans to accelerate the creation of the institution, with the Executive Council deciding to submit the project for final approval in the fourth quarter of this year. With the launch date soon to be confirmed, APPO is inviting investors to support the initiative.
“I would like to take this opportunity to call on investors to join us in the African Energy Bank. Africa’s oil and gas industry has reached maturity. Africa cannot continue to depend on external powers to finance its oil and gas. The continent must control the funding mechanisms for its own industry, create the technology it needs, and develop its own market for oil and gas resources,” stated Ibrahim.
