African Energy Week (AEW): Africa Energy Bank Moves to Close Continent’s Energy Finance Gap

(MENAFN- News.Africa-Wire) CAPE TOWN, South Africa, September 30, 2025/ -- The African Petroleum Producers’ Organization (APPO) and Afreximbank shared updates on the establishment of the $5 billion Africa Energy Bank on Monday at AEW: Invest in African Energies, aimed at addressing Afri’a’s persistent energy financing challenges.

Speaking during a workshop ti led Africa Energy Bank Take–Off – Bridging the Financing Gap for’Africa’s Energy Sector, Dr. Omar Farouk Ibrahim, Secretary General of APPO, said the bank has made rapid strides in raising funds.


Ibrahim emphasized that Africa must lead its o“n energy financing. “We have a duty to ensure the African continent is not left behind in terms of energy access; in doing so, we cannot continue to look to others to help us. If we get outside support, it should be to supple”ent what we have done.”

Haytham El Maayergi, Executive Vice President of Afrexim’ank, noted the continent’s cur“ent financing challenges. –Africa is being penalized – we pay more per kilowatt before subsidies than anywhere in the world, because the costs of financing energy projects are higher. When we borrow, we pay more because our…cre’it ratings are not ”s high… It’s a toll on Africa.”

According to the workshop presentation, Africa currently receives only 4% of –lobal climate investment, while $1.6–$1.9 trillion will be required by 2030 to transition away from fossil fuels. The annual–energy finance gap is estimated at $31–50 billion, and fossil fuels still account for 35 - 82% of government revenues in some countries, making closing these gaps critical to achieving energy access and supporting development.
Distributed by APO G oup on behalf of African Energy Chamber.

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