African Petroleum Producers Organisation (APPO) secretary general Farid Ghezali is expected to use the upcoming Angola Oil & Gas Conference and Exhibition in September to outline how the planned Africa Energy Bank (AEB) could transform financing for oil and gas projects across the continent.
Ghezali’s intervention comes as African producers prepare for the bank’s anticipated launch in June 2026, a development widely viewed as a turning point for energy investment at a time when international lenders are retreating from hydrocarbons.
The AEB is being established by APPO and the African Export-Import Bank (Afreximbank) as Africa’s first continent‑wide energy financing institution, with an initial capitalisation of $5 billion and a broader funding target of up to $15 billion by 2030.
Designed to mobilise African capital for upstream, midstream and downstream projects, the bank will prioritise gas‑to‑power, refining, regional pipelines and integrated infrastructure.
Its first phase will focus on Angola, Nigeria and Libya – three of Africa’s largest producers – before expanding its portfolio.
The institution will operate under a “Mutual Assured Development” framework that emphasises commercial viability, sovereign benefit and local content, while partnering with hundreds of African financial institutions to distribute risk.
For Angola, the AEB’s arrival aligns with efforts to sustain production above one million barrels per day, accelerate exploration and address persistent financing gaps in the downstream sector.
The country is pursuing a $70 billion upstream investment drive, while major projects such as the 200,000‑barrel‑per‑day Lobito Refinery still require billions in additional funding ahead of a planned 2027 start.
The bank is also expected to support the listing of African national oil companies, including Sonangol, which is preparing for a potential 2027 initial public offering of up to 30 percent of its shares.
Access to new capital pools is seen as critical to strengthening NOC competitiveness as global financing conditions tighten.
AOG 2026, taking place from 8–10 September in Luanda, is set to convene policymakers, financiers and operators at a moment when access to capital has become one of the most decisive factors shaping project development.
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