Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Thando Thabethe Channels the Rhythm of South Africa in a Garden-Couture Look

    July 6, 2025

    Rescuers, parents scramble to find missing summer campers in wake of deadly Texas flood

    July 6, 2025

    Canada Comfortably Beat the Springbok Women in First Test in Pretoria

    July 5, 2025
    Facebook X (Twitter) Instagram
    • Home
    • Contact Us
    • About Us
    • Privacy Policy
    • Terms Of Service
    • Advertisement
    Sunday, July 6
    Facebook X (Twitter) Instagram Pinterest Vimeo
    ABSA Africa TV
    • Breaking News
    • Africa News
    • World News
    • Editorial
    • Environ/Climate
    • More
      • Cameroon
      • Ambazonia
      • Politics
      • Culture
      • Travel
      • Sports
      • Technology
      • AfroSingles
    • Donate
    ABSLive
    ABSA Africa TV
    Home»Culture»Africa Energy Bank Gains Momentum with Capital Contributions from Nigeria, Angola and Ghana
    Culture

    Africa Energy Bank Gains Momentum with Capital Contributions from Nigeria, Angola and Ghana

    Ewang JohnsonBy Ewang JohnsonApril 1, 2025No Comments4 Mins Read
    Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
    Africa Energy Bank Gains Momentum with Capital Contributions from Nigeria, Angola and Ghana
    Share
    Facebook Twitter LinkedIn Pinterest Email Copy Link


    African Energy Chamber

    In a significant development for Africa’s energy sector, Nigeria, Angola and Ghana have fulfilled their capital commitments toward establishing the Africa Energy Bank (AEB). This milestone represents 44% of the minimum required funding from African Petroleum Producers Organization (APPO) members to initiate the bank’s operations. Dr. Omar Farouk Ibrahim, Secretary General of APPO, announced this progress during the Congo Energy&Investment Forum last week.

    The AEB aims to finance oil and gas projects across the continent, addressing funding challenges posed by traditional Western financial institutions’ reluctance to support fossil fuel initiatives due to environmental concerns. APPO has requested each of its 18 member states to contribute $83 million, targeting a total initial capitalization of $5 billion. Beyond Nigeria, Angola and Ghana, five additional member states – Algeria, Benin, the Republic of Congo, Equatorial Guinea and Ivory Coast – have pledged to make their payments, aligning with the bank’s goal to commence operations in the first half of 2025.

    Nigeria remains sub-Saharan Africa’s largest oil producer, offering significant opportunities in the oil and gas sector, including a 2025 bid round. The implementation of the Petroleum Industry Act has introduced regulatory reforms to enhance transparency and attract investment, driving major projects forward. Recent final investment decisions (FIDs) include TotalEnergies’ $550 million Ubeta Gas Field Development and Shell’s $5 billion Bonga North Project, yet additional financing is crucial to advancing Nigeria’s gas agenda and unlocking its full potential in the energy transition.

    Angola, meanwhile, is actively diversifying its energy portfolio while advancing major deepwater developments, including TotalEnergies’ $6 billion Kaminho Deepwater Project, Eni’s Agogo Integrated West Hub and a limited public tender, with a long-term goal of increasing production to 2 million barrels per day. The country plans to make an FID on its first green hydrogen project by 2025 – a 600 MW development led by Sonangol in collaboration with international partners. Additionally, Angola is spearheading its first non-associated gas project, the New Gas Consortium, and undertaking a $12 billion expansion of the Angola LNG plant to enhance its gas monetization efforts.

    Ghana is strengthening its position as a leading oil and gas player with new commitments from Eni and Tullow Oil. In March, Eni and the Ghana National Petroleum Corporation signed an agreement to enhance offshore exploration, optimize existing assets and advance untapped reserves. This follows recent regulatory reforms aimed at improving fiscal terms, transparency and investment incentives. Tullow Oil also remains integral to Ghana’s energy sector, with production from the Jubilee and TEN fields supporting economic growth and plans to launch a drilling program in May 2025 to bring new production online. Beyond hydrocarbons, Ghana is modernizing infrastructure, expanding energy access and diversifying into renewables to strengthen long-term energy security.

    Amid these developments, the establishment of the AEB is a strategic response to Africa’s need for dedicated financial institutions that understand the continent’s unique energy landscape. By providing tailored financing solutions, the Bank is poised to accelerate energy project development, enhance energy security and drive economic growth. As more countries contribute their capital shares, the bank is expected to play a pivotal role in unlocking investment, bridging financing gaps and ensuring sustainable energy expansion across Africa.

    With Nigeria, Angola and Ghana contributing their capital shares, the AEB is gaining momentum as a key financial institution for the continent’s energy future. African Energy Week (AEW) 2025: Invest in African Energies – taking place from September 29 to October 3 in Cape Town – will serve as a vital platform to advance discussions on the AEB’s role in mobilizing investment and bridging financing gaps. The conference will cover strategic topics including upstream oil and gas, downstream infrastructure, the energy transition and power industry developments. Notably, AEW 2025 will feature an energy finance stage dedicated to the latest updates from the AEB, investment trends and strategies to reduce barriers to capital access, ensuring that Africa’s energy sector is well-positioned for sustainable growth.

    AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

    Distributed by APO Group on behalf of African Energy Chamber.



    Source link

    Post Views: 13
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Ewang Johnson
    • Website

    Related Posts

    Nearly Eight In 10 Zambians Said They Were Recently Targeted With Fraud

    July 5, 2025

    Don't look back in anger: Oasis reunites as comeback tour kicks off in Cardiff

    July 5, 2025

    How the trial of Nazi war criminal Klaus Barbie shook the world

    July 5, 2025
    Leave A Reply Cancel Reply

    Top Posts

    Who is Duma Boko, Botswana’s new President?

    November 6, 2024

    As African Leaders Gather in Addis Ababa to Pick a New Chairperson, They are Reminded That it is Time For a Leadership That Represents True Pan-Africanism

    January 19, 2025

    BREAKING NEWS: Tapang Ivo Files Federal Lawsuit Against Nsahlai Law Firm for Defamation, Seeks $100K in Damages

    March 14, 2025

    Kamto Not Qualified for 2025 Presidential Elections on Technicality Reasons, Despite Declaration of Candidacy

    January 18, 2025
    Don't Miss

    Thando Thabethe Channels the Rhythm of South Africa in a Garden-Couture Look

    By Prudence MakogeJuly 6, 2025

    Photo Credit: Thando Thabete/Instagram Thando Thabethe showed up looking like she just stepped out of…

    Your Poster Your Poster

    Rescuers, parents scramble to find missing summer campers in wake of deadly Texas flood

    July 6, 2025

    Canada Comfortably Beat the Springbok Women in First Test in Pretoria

    July 5, 2025

    Destinations that are prettiest in winter (even without snow)

    July 5, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo

    Subscribe to Updates

    Sign up and get the latest breaking ABS Africa news before others get it.

    About Us
    About Us

    ABS TV, the first pan-African news channel broadcasting 24/7 from the diaspora, is a groundbreaking platform that bridges Africa with the rest of the world.

    We're accepting new partnerships right now.

    Address: 9894 Bissonette St, Houston TX. USA, 77036
    Contact: +1346-504-3666

    Facebook X (Twitter) Pinterest YouTube WhatsApp
    Our Picks

    Thando Thabethe Channels the Rhythm of South Africa in a Garden-Couture Look

    July 6, 2025

    Rescuers, parents scramble to find missing summer campers in wake of deadly Texas flood

    July 6, 2025

    Canada Comfortably Beat the Springbok Women in First Test in Pretoria

    July 5, 2025
    Most Popular

    Thando Thabethe Channels the Rhythm of South Africa in a Garden-Couture Look

    July 6, 2025

    Did Paul Biya Actually Return to Cameroon on Monday? The Suspicion Behind the Footage

    October 23, 2024

    Surrender 1.9B CFA and Get Your D.O’: Pirates Tell Cameroon Gov’t

    October 23, 2024
    Facebook X (Twitter) Instagram Pinterest YouTube
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms Of Service
    © 2025 Absa Africa TV. All right reserved by absafricatv.

    Type above and press Enter to search. Press Esc to cancel.