Africa Energy Bank launches with $5 billion capital

The African Export-Import Bank and the African Petroleum Producers’ Organisation have established the Africa Energy Bank, a pan-African lender with $5 billion in authorized capital, announced at its inaugural meeting in Abuja on October 31, 2026. The bank is intended to address an estimated $200 billion in energy investment needs as traditional financiers pull back from fossil fuels, while supporting what its promoters describe as a just energy transition. It will finance projects across the energy value chain, including oil and gas production, transport, processing, refining and distribution, with goals that include expanding local capacity, reducing petroleum imports and increasing intra-African trade. Helmy Ghazi was appointed the bank’s first president, and its inaugural board was formed.