The African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organization (APPO) formally established the Africa Energy Bank at its first general meeting in Abuja on 31 October. The meeting appointed Helmy Ghazi, a former deputy chief executive of HSBC Bank Egypt, as its first president and named a board; the bank has authorised capital of $5 billion. Afreximbank and APPO signed the bank’s charter in 2024, and launch dates set for that year slipped repeatedly. The bank will lend for oil and gas exploration, production, refining and transport as well as for power, a gap left as traditional lenders retreat from fossil fuel projects. Watch how much capital members pay in and which projects it finances first.
Sources
- Nairametrics: https://nairametrics.com/2026/10/31/africa-energy-bank-takes-off-egypts-helmy-ghazi-named-pioneer-president/
- TVC News: https://www.tvcnews.tv/afreximbank-appo-establish-5bn-africa-energy-bank-in-abuja/
- Legit.ng: https://www.legit.ng/business-economy/economy/1738978-africa-energy-bank-begins-operations-nigeria-names-president-targets-200bn-gap/
- MSME Africa (charter signing, 2024): https://msmeafricaonline.com/afreximbank-and-appo-establish-the-africa-energy-bank-aeb
- News Agency of Nigeria (September 2024 launch target): https://nannews.ng/africa-energy-bank-fg-committed-to-meeting-sept-deadline/