The Africa Energy Bank (AEB) was formally established on October 31, 2026, with Egypt\u2019s top banker, Mr Helmy Ghazi, emerging as the Bank\u2019s inaugural president.<\/p>\n
This was announced in a joint statement issued by the African Export-Import Bank (Afreximbank) and the African Petroleum Producers\u2019 Organisation (APPO).<\/p>\n
The announcement was made during the AEB\u2019s inaugural general meeting held in Abuja, Nigeria, on October 31, 2026.<\/p>\n
Resolutions passed at the first General Assembly led to the appointment of the Bank\u2019s inaugural president, Mr Helmy Ghazi, and the constitution of its first Board of Directors.<\/p>\n
The Board comprises members from the public and private sectors, as well as leading policy institutions from across the continent.<\/p>\n
According to the statement, the creation of the Africa Energy Bank reaffirms African governments\u2019 determination to secure their own energy future.<\/p>\n
According to the statement, the Bank is being established at a time when the continent\u2019s energy investment needs are estimated at $200 billion.<\/p>\n
It added that traditional providers of short- and long-term financing to Africa\u2019s energy sector are withdrawing funding from fossil fuels, even as oil and gas remain vital to the continent\u2019s energy systems.<\/p>\n
The AEB is expected to operate as an independent, supranational, pan-African financial institution.<\/p>\n
It will also attract investments from governments, national oil companies, financial institutions, and private investors to support energy development across the continent.<\/p>\n