Shareholders formally establish the Bank at its inaugural General Meeting in Abuja, constitute the first Board of Directors and approve 4 January 2027 for the commencement of operations
Abuja, Nigeria, 31 October 2026: The Africa Energy Bank (AEB) today announces the appointment of Mr Helmy Ghazi as President and Chairman of the Board of Directors. The appointment was made by resolution of the shareholders at the inaugural General Meeting of the Bank, held in Abuja, at which the Bank was formally established by its founding institutions, the African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organisation (APPO).
Mr Ghazi is the first President of the Bank. He will lead the institution through its establishment phase and into operations, which shareholders have approved to commence on 4 January 2027. The General Meeting also constituted the Bank’s first Board of Directors, whose members are drawn from the public and private sectors and from leading policy institutions across the continent.
An Egyptian banker, Mr Ghazi brings more than 25 years of experience in corporate and international banking. Before his appointment he served as Deputy Chief Executive Officer and Managing Director, Head of Global Banking, at HSBC Bank Egypt, having earlier held senior responsibilities there in structured finance and corporate banking.
The Africa Energy Bank is an independent, supranational pan-African financial institution with an authorised capital of US$5 billion. It will finance projects across the energy value chain, including exploration and production, transportation, processing, refining and distribution, and will mobilise investment from governments, national oil companies, financial institutions and private investors.
The Bank has been established at a time when Africa’s energy investment requirements are estimated at US$200 billion and traditional sources of finance for the continent’s oil and gas industry are being withdrawn. Its mandate is to close that gap, strengthen Africa’s productive capacity, reduce dependence on imported petroleum products, deepen intra-African energy trade and support a just energy transition that reflects the development priorities of African countries.
About the Africa Energy Bank
The Africa Energy Bank (AEB) is an independent, supranational pan-African financial institution established by the African Export-Import Bank (Afreximbank) and the African Petroleum Producers’ Organisation (APPO) to finance the development of Africa’s energy sector. The Establishment Agreement and Charter of the Bank were signed in Cairo on 4 June 2024, and the Bank was formally established at its inaugural General Meeting in Abuja on 31 October 2026. The Bank has an authorised capital of US$5 billion and is headquartered in Abuja, Nigeria.
