Appo and Afreximbank have agreed to establish the African Energy Transition Bank
African institutions plan energy project bank
Continent’s leaders attempt to insulate oil and gas projects from changing investment landscape
The African Petroleum Producers’ Organisation (Appo) and multilateral African financial institution Afreximbank have signed a memorandum of understanding (MoU) to establish the African Energy Transition Bank. The bank is intended to “support an Africa-led energy transition strategy”, with specific reference to oil and gas projects as well as further development, environmental and climate-change-mitigation goals. “Africa’s oil and gas industry faces growing pressures as international investment in hydrocarbons diminishes,” says Afreximbank. The new bank “will enable a more efficient and predictable capital allocation between fossil fuels and renewables”, adds Afreximbank president Benedict Or
Also in this section
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
CEO argues the upstream potential remains huge as analysts question future oil production for Canadian province’s offshore industry
13 June 2025
The country is facing energy shortfalls this summer amid reduced Iranian gas imports and difficulties leasing an FSRU
