By: Oil & gas Middle east

At the Angola Oil & Gas 2025 Conference, Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organisation (APPO), announced the forthcoming finalisation of the launch date for the Africa Energy Bank.

This $5 billion initiative, led by APPO and the African Import-Export Bank (Afreximbank), seeks to address Africa’s investment gap in the energy sector. The bank will be headquartered in Abuja, Nigeria, with Angola already fulfilling its $100 million capital commitment.

Ibrahim emphasised APPO’s awareness of challenges in the African oil and gas industry and highlighted measures taken, including a three-year-old MoU with Afreximbank, to establish the bank. The Executive Council plans to seek final project approval in Q4 2025, with investor support being actively invited.

Ibrahim called for investor partnerships, emphasising Africa’s need to control its oil and gas finances and develop its own technology and market. This initiative aims to reduce dependency on external financing.