AFRICA ENERGY BANK POISED FOR LAUNCH: $5B INITIATIVE SET TO DRIVE ENERGY FINANCING
GREATRIBUNETVNEWS–THE Africa Energy Bank is gearing up for a June launch, marking a significant milestone in Africa’s energy financing landscape. Nigeria has handed over the fully furnished headquarters of the bank, located in Abuja’s Central Area, to the Association of African Petroleum Producers (APPO) and Afreximbank
The bank’s core mandate is to mobilize domestic and regional capital for energy infrastructure, reducing Africa’s reliance on external financing. With a $5 billion capital base, the Africa Energy Bank aims to support energy projects across the value chain, including exploration, refining, and renewable energy integration.
Key Highlights:
– Launch Timeline : June 2026
– Headquarters: Abuja, Nigeria
– Objective: Mobilize capital for Africa’s energy development
– Membership : 18 APPO member countries
– Capitalization: $5 billion, with plans to reach $120 billion in assets within five years
The handover ceremony was attended by senior government officials, energy leaders, and financial partners. Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, emphasized Nigeria’s commitment to the bank’s launch, stating that the country has met all obligations as host nation
The handover, they noted, signals the beginning of a new era in which Africans are determined to finance, produce, and sustain their own energy future
APPO President Mamadou Sangafowa-Coulibaly praised Nigeria’s leadership and reaffirmed the organization’s commitment to ensuring the bank begins operations within months.
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