Africa Energy Bank launches with USD 5 billion in capital

The Africa Energy Bank (AEB) was formally established by Afreximbank and the African Petroleum Producers’ Organization (APPO) at its inaugural general meeting in Abuja, Nigeria, on October 31, 2026. With authorized capital of USD 5 billion, it aims to address the continent’s energy financing gap, with investment needs estimated at USD 200 billion. The bank will support projects across the energy value chain, seeking to reduce reliance on imported petroleum products and promote intra-African energy trade. Helmy Ghazi was appointed its inaugural president, and the first board of directors was formed.