Africa Energy Bank: A Defining Test for Africa’s Energy Sovereignty and Just Transition

The Africa Energy Bank (AEB), formally established by APPO and Afreximbank and announced in Abuja on 31 October 2026, marks a step toward African-led energy finance. With US$5 billion in authorised capital, it is intended to fund projects across the energy value chain, as about 600 million Africans lack electricity and more than one billion lack clean cooking access. Gabriel Aduda argues that the bank should go beyond financing oil and gas extraction to support infrastructure, industrial development, jobs and affordable energy access. Its success will depend on sound governance and balancing energy security, equity and environmental sustainability.