Africa Set to Launch Energy Bank

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Africa Set to Launch Energy Bank

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Africa’s energy future is taking shape as the African Energy Bank (AEB) moves into its final launch preparations.

A high-level review meeting in Abuja, hosted by Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, brought together key stakeholders, including Afreximbank President, Prof. Benedict Oramah, and African Petroleum Producers’ Organisation (APPO) Secretary General, Dr. Omar Farouk Ibrahim.

“The AEB is poised to become a transformative financing platform for energy projects across the continent. This review confirms that every critical milestone is either completed or on schedule, and we remain fully aligned with our continental partners,” Senator Lokpobiri said.

The AEB’s launch is expected to unlock new opportunities for Africa’s energy sector, driving investment, growth, and access to affordable and sustainable energy.

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Key legal and governance frameworks have been concluded, while capital mobilisation discussions have garnered encouraging commitments from member nations and private investors.

“We are impressed by Nigeria’s dedication to meeting the stringent requirements for bank establishment,” Dr. Ibrahim said.

“The collaboration we witnessed today signals a unified resolve to deliver affordable, sustainable energy to Africans,” he emphasised.

Prof. Oramah added, “Afreximbank is ready to deploy its structuring expertise and capital base to ensure the AEB launches with the strength and credibility required to attract global co-investors.”

With a definitive launch timeline and inaugural board meeting date set to be announced shortly, stakeholders are committed to transparency and efficiency in the final preparatory stages. “Our collective focus is on delivering a bank that catalyses investment, accelerates energy security, and drives economic growth across Africa,” Senator Lokpobiri emphasized.