The African Export Import Bank and African Petroleum Producers Organisation have formally announced the establishment of the Africa Energy Bank.
The announcement was made during the Bank inaugural general meeting held in Abuja Nigeria on October 31 2026.
The Creation of Africa Energy Bank reaffirms African governments determination to secure their own energy future.
The move was in recognition that significant investments in energy generation and transmission is required to accelerate industrial growth and to leverage tremendous opportunities from emerging technologies particularly artificial intelligence.
The bank is being established at a time when continent energy investment needs are estimated at 200 billion dollars.
Traditional providers of short and long term financing to Africa’s energy sector are withdrawing funding from fossil fuels even as oil and gas remain vital to continent energy systems.
Africa Energy Bank aims to bridge the financing gap while supporting just energy transition for African countries.
With authorised capital of 5 billion dollars, the Bank will support projects across the energy value chain including exploration and production, transportation, processing, refining and distribution.
Investments are intended to strengthen productive capacity, reduce reliance on imported petroleum products and promote intra African trade in energy goods.
The bank mandate also includes promoting robust African participation in the continent’s energy sector to ensure Africa’s energy future is shaped by Africans.
Africa Energy Bank will operate as an independent supranational pan African financial institution. It will seek to attract investments from governments, national oil companies, financial institutions and private investors to support energy development across the continent.
Resolutions passed at the first general assembly included appointment of Bank inaugural President Mr Helmy Ghazi and formation of its first Board of Directors comprising members from public and private sectors as well as leading policy institutions from across the continent.
