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
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
