The Africa Energy Bank is launching in 2026 with billions to fund oil and gas, as Western lenders retreat from financing fossil fuels on the continent.
NIGERIA · ENERGY FINANCE
Key Facts
—The idea: Africa is launching its own development bank for oil and gas, the Africa Energy Bank, to replace Western financing that is drying up.
—The backers: It is led by APPO, the African oil producers’ group, with Afreximbank, the continent’s trade bank.
—The home: Its headquarters is in Abuja, Nigeria, Africa’s largest oil producer.
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