New bank will help boost African fossil fuels
African Energy Bank is being launched in Nigeria to help the continent exploit its oil and gas reserves and meet electricity deficit
13 April 2025 - 08:16
The African Petroleum Producers Organisation (Appo) and the African Export-Import Bank are teaming up to create a first-of-its-kind bank — the Africa Energy Bank (AEB) — to fund energy projects on the continent, particularly in the oil and gas sector.
Appo secretary-general Omar Farouk Ibrahim told the African Refiners & Distributors Association (Arda) Week in Cape Town the new bank — to be based in Nigeria and launched in June — would help the continent exploit its fossil fuel resources for its own benefit. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.