The African Energy Bank will be launched on July 1

It was on the sidelines of his participation in the 8th Symposium of the Algerian Gas Industry Association (AIG) in Oran that Farid Ghezali, Secretary-General of APPO, revealed details of this deadline.

In an exclusive statement, the official confirmed that the official launch date had now been set for 1 July. “The BAE will start with seed funding of $500 million, before seeing this funding increase in the near future,” he said, emphasising the member states’ firm commitment to bringing this landmark project to fruition.

The bank’s financial structure is built on solid foundations. With an initial capital of $5 billion, it has set a target of raising $15 billion over three years. To date, nearly 45% of its subscribed capital has already been secured. Several countries have, in fact, already fulfilled their commitments via the Africa Energy Investment Corporation (AEICORP), the financial vehicle created by the members of the Appo.

Côte d’Ivoire thus contributed over $20 million in December 2025, whilst Nigeria, Angola and Ghana are also among the leading contributors. Further contributions are expected at a summit scheduled for the first half of 2026.

The members of APO, alongside Afreximbank, are the main backers of this initiative. Each member state will be required to contribute a minimum of $83.33 million to the bank’s capital, thereby ensuring a financial foundation that is both shared and sustainable.

Algeria, a committed player

Algeria, which plays an active role within the APPO, has already demonstrated its commitment to this project. Last February, Miloud Medjelled, Secretary General of the Ministry of Hydrocarbons and Mines, attended a meeting in Abuja dedicated to the African Energy Bank.

The discussions at the time focused on ways to speed up the institution’s launch and strengthen its role in financing continental energy projects, in the interests of sustainable development and regional cooperation.

This initiative forms part of Algeria’s ongoing strategy to support African initiatives that promote energy integration, investment and the establishment of innovative financing mechanisms.

With the launch of the African Energy Bank, a sovereign, strategic and wholly African institution is being established. The fulfilment of the promises underpinning its capital will ensure that this new institution becomes the driving force behind the continent’s true energy independence.