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
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
