News Finances

African Energy Bank Edges Closer to Launch as APPO Plans $500 Million Drive in 2026

African Energy Bank Edges Closer to Launch as APPO Plans $500 Million Drive in 2026
Thursday, 06 November 2025 18:53

After several delays, the Association of African Petroleum Producers (APPO) has set a new deadline to make the African Energy Bank operational. A summit of African leaders is planned to mobilize significant contributions toward the bank, which aims for a total capital of $5 billion.

The African Petroleum Producers’ Organization (APPO) plans to hold a summit of Heads of State in the first half of 2026 to raise $500 million for the launch of the African Energy Bank.

The announcement was made on November 5, 2025, by Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly, who recently assumed the APPO presidency for 2026, succeeding Congo’s Minister of Hydrocarbons, Bruno Jean Richard Itoua. Coulibaly was appointed during the 48th APPO Council of Ministers meeting held in Brazzaville on November 4-5.

The Ivorian minister made completing the bank a top priority of his term. The planned $5 billion institution aims to help African countries finance energy projects independently , from exploration to local resource processing. “Completing the establishment of this bank is extremely important,” Sangafowa-Coulibaly said during his inauguration.

Launch Delays Continue

The new announcement follows several missed launch deadlines. In February 2025, Afreximbank Executive Vice President Denys Denya had indicated a mid-2025 start date, noting that teams were still working to raise the necessary capital. The project, first announced in May 2022, is a joint effort between Afreximbank and APPO. Nigeria was chosen to host the bank’s headquarters in July 2024. Three months later, APPO Secretary General Omar Farouk Ibrahim reported that member states had already secured 45% of the projected capital, around $2.25 billion,though detailed contributions have yet to be disclosed.

Filling a Funding Gap

The African Energy Bank is designed to fill the financing void left by international lenders’ withdrawal from fossil fuel projects in Africa, which has constrained capital for oil and gas development. The institution will serve as a pan-African energy development bank, primarily focused on oil and gas projects but also open to renewable initiatives.

Its objective is to give African nations greater financial autonomy over their energy development. The bank will operate across the entire value chain, from exploration and extraction to processing and marketing. The $500 million to be raised at the 2026 summit represents 10% of total capital and will fund start-up operations and initial projects, with the remainder to be mobilized from other partners to reach $5 billion.

Chamberline Moko

 
On the same topic
Cameroon ratifies AfDB loans worth 89 billion CFA francs Funding backs CAP2E youth employment project in the Far North Project targets training, jobs,...
Cameroon ratifies AfDB loans worth 89 billion CFA francs Funding backs CAP2E youth employment project in the Far North Project targets training, jobs,...
Burkina Faso adopts 2026-2030 Recovery Plan guiding economic and social policy Five-year plan mandated by law, replacing previous national development...
The year 2025 stands out as a turning point for the WAEMU public debt market. Not because it marked a rupture, but because it exposed the balances,...
Most Read
01

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
02

Circular migration is based on structured, value-added mobility between countries of origin and host...

Circular migration as a lever to turn Africa’s student exodus into value
03

BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...

BRVM Lists Burkina Faso’s First Securitization Fund Bonds
04

CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...

Ethiopia’s CBE launches digital platform to channel diaspora remittances
05

President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...

Nigeria approves targeted incentives to speed up Shell’s Bonga South West project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.