Afreximbank and APPO establish Africa Energy Bank with $5 billion in authorized capital

Africa Energy Bank was formally established at an Oct. 31, 2026, meeting in Abuja, where Helmy Ghazi was appointed its first president and its first board was formed. The bank has $5 billion in authorized capital and plans to support projects from exploration to distribution. It aims to bridge a gap in Africa’s energy financing and seek investment from governments, national oil companies, financial institutions and private investors.