Latest news with #APPO
Zawya
4 days ago
- Business
- Zawya
African Petroleum Producers Organization (APPO) Secretary General Joins Angola Oil & Gas (AOG) 2025 Ahead of Energy Bank Launch
Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers Organization (APPO), will speak at this year's edition of the Angola Oil&Gas (AOG) conference – the country's premier industry event, scheduled for September 3-4 in Luanda. Ibrahim's return to the conference reflects his commitment to supporting oil and gas projects in the country and comes as the organization prepares to launch the Africa Energy Bank (AEB) – a financial institution created in partnership with the African Export-Import Bank (Afreximbank). Established with the aim of improving access to financing for African oil and gas projects, the AEB is on track to commence operations in June 2025, with the finalization of key arrangements made in April 2025. Headquartered in Abuja, Nigeria, the bank will have an initial capitalization of $5 billion, supported by an $83 million commitment made by each APPO member state. As of March 2025, three member countries – Angola, Nigeria and Ghana – had contributed, reflecting the support from some of Africa's biggest oil and gas producers. At AOG 2025, Ibrahim is set to share insight into the role the institution will play in markets such as Angola and how improved financing can support regional fuel security. AOG is the largest oil and gas event in Angola. Taking place with the full support of the Ministry of Mineral Resources, Oil and Gas; the National Oil, Gas and Biofuels Agency; the Petroleum Derivatives Regulatory Institute; national oil company Sonangol; and the African Energy Chamber; the event is a platform to sign deals and advance Angola's oil and gas industry. To sponsor or participate as a delegate, please contact sales@ As sub-Saharan Africa's second largest oil producer, Angola strives to sustain oil production above one million barrels per day beyond 2027. In tandem, the country aims to bolster gas monetization, with its first non-associated gas project – led by the New Gas Consortium – coming online in late-2025 or early-2026. Through a multi-year strategy, improved fiscals and an upcoming Gas Master Plan, the country is incentivizing spending across the entire oil and gas value chain. The AEB will support these goals by offering project developers the requisite financing to accelerate exploration, production and project development. Operating as a development finance institution, the AEB will focus on Africa. The bank will have three classes of shareholders, with Class A featuring founding countries, APPO member states and Afreximbank; Class B consisting of other African countries, alongside their national oil companies; and Class C being reserved for individual and corporate investors outside of the continent. This structure offers access to a wide investment pool and reflects the drive by APPO and Afreximbank to support African oil and gas developments. AOG 2025 offers a strategic platform for project developers in Angola to gain insight into financing opportunities made possible through the AEB. Ibrahim's participation will not only provide a greater understanding of the role the bank can play in the country but foster dealmaking in Angola as companies seek new financing mechanisms to expand their portfolios. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
16-05-2025
- Business
- Zawya
Africa-First Energy Policies: Turning Vision into Investment
Africa is entering a pivotal phase in its energy transformation, characterized by a growing shift toward 'Africa-first' energy policies. Despite contributing less than 4% to global emissions, Africa faces the world's most severe energy access challenges – with approximately 600 million people lacking electricity and 900 million without clean cooking solutions. With $47 billion in oil and gas capex in 2024 – a 23% increase year-over-year – Africa is proving its value as a competitive and resilient energy investment destination. This surge reflects growing investor appetite, strengthened policy frameworks and a renewed focus on project bankability. In this context, African Energy Week (AEW): Invest in African Energies 2025 – taking place from September 29 to October 3 in Cape Town – serves as the continent's leading forum for turning vision into tangible investment. With a focus on public-private partnerships (PPPs), blended finance and strategic energy projects, the event brings together government leaders, financiers, developers and technology providers to advance deals, foster collaboration and position Africa as a global energy leader. Building Institutions for Local Investment A wave of institutional and policy advancements is laying the groundwork for increased local investment in energy. A key milestone is the establishment of the Africa Energy Bank (AEB) by the African Petroleum Producers' Organization (APPO) and Afreximbank, with an initial capital of $5 billion. Headquartered in Abuja and set to launch in June 2025, the AEB will finance oil and gas infrastructure projects, serving as a bold step toward regional energy self-sufficiency and resource sovereignty. At the same time, the African Development Bank (AfDB) is supporting long-term energy planning. In Algeria, the AfDB has launched a strategic dialogue to shape the 2025–2030 Country Strategy Paper, aligning national goals with sustainable, diversified energy development. In South Africa, the success of the Renewable Energy Independent Power Producer Procurement Program (REIPPPP) illustrates how structured procurement can generate market certainty. The latest round secured 1,760 MW of solar PV capacity backed by R31.4 billion ($1.7 billion) in investment — with 49% local ownership and 46% equity held by Black Economic Empowerment entities. Scaling Investment through PPPs and Blended Finance As Africa's energy project pipeline expands, PPPs and blended finance have become essential tools for scaling investment. The AfDB's $10 million concessional equity stake in the ARM-Harith Successor Infrastructure Equity Fund, a $200 million regional vehicle, highlights how development finance institutions can de-risk infrastructure and crowd in private capital. The fund supports AfDB's target to electrify 300 million people by 2030 through sustainable energy solutions. Meanwhile, South Africa's Battery Energy Storage Independent Power Producer Procurement Program illustrates the power of blended finance in scaling innovation. With R12.8 billion ($678.8 million) allocated to eight projects delivering 615 MW of storage across three provinces, the initiative enhances grid stability and achieved a 35% cost reduction from the first bid round – a clear sign of growing cost efficiency. Frameworks for African-Led Growth The African Continental Free Trade Agreement (AfCFTA), ratified by over 48 countries, offers a powerful framework for prioritizing African-led energy development. By promoting intra-African investment flows and removing trade barriers, AfCFTA enables energy projects to be sourced, financed and executed within the continent. With Ghana spearheading the AfCFTA Guided Trade Initiative – engaging eight pilot countries – the agreement is fostering regional cooperation to scale African energy solutions and reduce external dependency. Once fully operational across more than 50 member states, AfCFTA is set to accelerate an Africa-first approach to infrastructure, technology, and capital deployment in the energy sector. Meanwhile, the African Energy Commission continues to strengthen institutional cooperation across the African Union to support sovereign energy strategies. A prime example of African private-sector leadership is Coscharis Technologies' $4 billion solar project in Nigeria – the largest renewable energy initiative in West Africa – reflecting a shift toward domestically-driven, large-scale investment in clean energy that aligns with national priorities and regional ambitions. 'Africa's energy future must be shaped by African priorities, African solutions and African investment. At AEW: Invest in African Energies 2025, we are not just talking about the energy transition – we are driving real deals and partnerships that put Africa-led development at the center of the global energy conversation,' states NJ Ayuk, Executive Chairman of the African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber. About AEW: Invest in African Energies: 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 for more information about this exciting event.
Zawya
07-05-2025
- Business
- Zawya
OTC 2025: Afreximbank to fund African Energy Bank with $19bln
In preparation for its takeoff this quarter, Afreximbank is set to fund African Energy Bank with $19 billion, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has hinted. According to the minister, the coming up of the bank is in a bid to boost energy access and drive economic prosperity in Africa. The minister disclosed this during the opening ceremony of the Nigerian Pavilion, hosted by the Petroleum Technology Association of Nigeria (PETAN), at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, U.S. He told the audience that the planned establishment of the African Energy Bank by the Africa Petroleum Producers Organisation (APPO) was to bridge funding gaps and ultimately free the continent from energy poverty. 'This is an opportunity to let you know that your concerns are gradually being addressed. 'As members of APPO, we are in partnership with Afrexim Bank, which during our last meeting disclosed that it has an exposure of nearly $14 billion. 'This amount, along with an additional $5 billion as the initial take-off capital, will be transferred to the African Energy Bank—bringing the total to over $19 billion,' the minister said. He further emphasized that the African Energy Bank is scheduled to begin operations within the current quarter. Themed: 'Africa's Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development', Lokpobiri, at the conference, urged African nations to forge a united front in the fight against energy poverty across the continent. He stressed that by working together; African countries can overcome energy poverty, drive economic growth, and improve the lives of millions of people. The minister stated that by pooling resources, African countries can invest in large-scale energy projects, reducing costs and increasing efficiency. According to him, collaboration can facilitate the exchange of best practices, technologies, and expertise, accelerating progress in the energy sector. Also, the minister stressed the need for Africa to develop cohesive policies that are tailored to the continent's unique circumstances, warning that fragmented approaches would be ineffective in addressing the escalating energy deficit. 'This conference is not a jamboree. It is a platform for Nigeria, and by extension, Africa—to showcase its vast potential,' Lokpobiri said. He underscored the importance of regional collaboration, highlighting the Africa Petroleum Producers Organisation (APPO) as a strategic entity established to devise shared solutions for the continent's energy challenges. Lokpobiri also expressed his approval of Donald Trump's return as President of U.S., suggesting it could help decelerate what he termed the 'hypocritical' global energy transition narrative, saying, 'It has put Africa at a disadvantage.' According to him, the prevailing global discourse on energy transition is largely influenced by geopolitical considerations. Lokpobiri called on African nations to repatriate investments held overseas and channel them into the African Energy Bank to bolster the continent's energy security. During a meeting with his Ghanaian counterpart, Lokpobiri advised Ghana to draw lessons from Nigeria's past experiences in the energy sector, particularly in avoiding early missteps. In his address, Ghana's Minister of Energy and Green Transition, Mr John Abdullahi, acknowledged Nigeria's leading role in the region. He stated that while Ghana is a relatively new player in the oil and gas sector, it is eager to learn from Nigeria's experiences and reforms, especially in the areas of local content development and climate policy. 'We will continue to consult Nigeria as we build a successful oil and gas industry. 'The collaboration between both countries remains strong,' Abdullahi said. Earlier, the Chairman of PETAN, Mr Wole Ogunsanya, emphasised the significance of Nigeria's presence at OTC. Ogunsanya said: 'This year's event, under the Nigerian Pavilion, is set to highlight Africa's growing role in the global energy sector. 'OTC 2025 promises to bring together top-tier industry leaders, policymakers, and stakeholders at the world's largest energy event.' He noted that PETAN's consistent participation over the years had significantly contributed to the growth of Nigeria's oil and gas industry. Ogunsanya recalled that two decades ago, the Nigerian National Petroleum Corporation (NNPC) tasked PETAN with coordinating Nigeria's activities at OTC, with the primary objective of attracting investment and fostering strategic partnerships. He underscored the imperative for Nigeria to continue building capacity and driving value creation across the entire oil and gas value chain. The event was well-attended by Nigerian government officials, key stakeholders in the oil and gas sector, exhibitors, and delegates from various West African nations. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
01-04-2025
- Business
- Zawya
Africa Energy Bank Gains Momentum with Capital Contributions from Nigeria, Angola and Ghana
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 for more information about this exciting event. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
27-03-2025
- Business
- Zawya
Africa Energy Bank Gears Up for H1 2025 Launch
Ahead of its H1 2025 launch, the Africa Energy Bank – developed jointly by Afreximbank and the African Petroleum Producers Organization (APPO) – is positioning itself to tackle major challenges in financing, technology and market reliability to accelerate Africa's oil and gas sector development. Speaking at the Congo Energy&Investment Forum in Brazzaville, Dr. Omar Farouk Ibrahim, Secretary General of APPO, reaffirmed the launch timeframe and underscored the urgency of establishing the bank to address the continent's energy needs. "We should not rest and wait for other countries to develop our own projects,' he said, adding, "At APPO, we have noted three specific challenges for the African continent: finance, technology and reliable markets." With an initial capital of $5 billion, the bank has allocated $1.5 billion for APPO member countries. It will primarily finance oil and gas projects, engage in trading and manage risks. Countries such as Ghana, Nigeria and Angola have already expressed support for the bank's objectives. The Republic of Congo has acquired $83.33 million in shares, reinforcing its commitment to the bank's mission. Distributed by APO Group on behalf of Energy Capital&Power.
