Delivering a keynote address at the Angola Oil&Gas 2025 Conference and Exhibition on Wednesday 3 September, Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), announced that the launch date for the Africa Energy Bank will be finalized at the next Council of Ministers of APPO Members meeting.
Spearheaded by APPO and multilateral finance institution the African Import-Export Bank (Afreximbank), the $5 billion Africa Energy Bank will support oil, gas and infrastructure projects across Africa. Set to be headquartered in Abuja, Nigeria, the bank aims to address the continent’s investment gap. Angola is one the nations that have fulfilled their $100 million capital commitment to the bank.
“APPO is fully conscious of the serious challenges facing the African oil and gas industry and is taking practical measures to address them. One measure was taken in Luanda three years ago. The APPO Ministerial Council approved the signing of an MoU between APPO and Afreximbank for the establishment of the Africa Energy Bank. The next Ministerial meeting of the APPO council will establish the official date for launch of the Africa Energy Bank,” stated Ibrahim.
In August 2025, APPO announced plans to accelerate the launch of the bank, with the organization’s Executive Council resolving to submit the project for final approval in Q4, 2025. With the launch date on the precipice of being finalized, APPO is inviting investors to support the bank.
“I would like to take this opportunity to appeal to investors to partner with us on the Africa Energy Bank. The African oil and gas industry has come of age. Africa cannot continue to be dependent on external powers to finance its oil and gas. Africa must control the finances of its oil and gas industry. Africa must create the technology it needs as well as its own market for its oil and gas resources,” Ibrahim stated.
Distributed by APO Group on behalf of Energy Capital&Power.