African energy bank to mobilise regional capital as HQ officially handed over

By Editor

Africa has taken a significant step toward asserting control over its energy future with the official handover of the headquarters of the African Energy Bank (AEB), a flagship pan-African institution established to mobilise capital for the continent’s energy priorities and strengthen regional energy value chains.

The handover ceremony took place on the sidelines of the Nigeria International Energy Summit, underscoring the growing momentum behind Africa-led financing solutions for energy development. Speaking at the event, the President of the African Petroleum Producers’ Organisation (APPO) and Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, Mamadou Colibaly, praised Nigeria’s leadership in hosting the Bank and confirmed that operations are expected to commence in June.

“We are committed to launching this Bank no later than June. I sincerely thank our partners for providing the headquarters and office facilities that make this take-off possible. The African Energy Bank represents Africa’s determination to finance, develop and secure its own energy future—by Africans, for Africans,” Colibaly said.

The African Energy Bank is a joint initiative of APPO member states and the African Export-Import Bank (Afreximbank), with a mandate to mobilise domestic and regional capital for energy infrastructure, reduce reliance on external financing, and align investments with Africa’s long-term development and industrialisation objectives.

During the handover, Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said Nigeria had fulfilled all its obligations as host country, noting that the headquarters is fully equipped and strategically located for immediate operations.

“Nigeria has met every obligation as host. The headquarters is ready, strategically located, and fully equipped, and we are prepared for immediate take-off,” Lokpobiri said.

The ceremony highlighted a shared African resolve to take greater ownership of the continent’s vast energy resources. Through targeted financial instruments, the Bank is expected to support projects across the energy value chain, including exploration, refining, renewable energy integration, and local content development—translating resource endowments into economic value, jobs, and industrial growth.

Speakers at the event emphasised that the African Energy Bank is more than a financial institution, describing it as a cornerstone of Africa’s broader push for economic independence and energy security. The handover, they noted, marks the beginning of a new era in which Africans are determined to finance, produce and sustain their own energy future.