Secretary General of the African Petroleum Producers Organization, Farid Ghezali, is set to speak at the upcoming Angola Oil & Gas Conference and Exhibition 2026, where discussions will center on the launch of the African Energy Bank and its implications for project financing across the continent.
The conference, scheduled for September 9–10 in Luanda, comes at a pivotal moment for Africa’s oil and gas sector, as the anticipated June 2026 debut of the African Energy Bank signals a shift toward continent-led financing solutions. The bank is expected to mobilize capital for strategic oil and gas projects, with an initial funding target of $10 billion and a longer-term goal of raising up to $15 billion by 2030.
In its early phase, the AEB will prioritize projects in key producing countries, including Angola, Nigeria, and Libya. The institution is being developed by APPO in partnership with Afreximbank and will focus on financing upstream, midstream, and downstream infrastructure, including gas-to-power projects, refineries, and regional pipelines.
For Angola, the emergence of the AEB is particularly significant as the country seeks to sustain crude oil production above one million barrels per day while advancing new exploration and expanding refining capacity. Despite a broader $70 billion investment drive in the upstream sector, financing gaps remain, particularly in downstream projects such as the Lobito Refinery, which requires $4.8 billion to reach completion ahead of its planned 2027 start.
Headquartered in Nigeria, the AEB will operate under a “Mutual Assured Development” framework, emphasizing commercial viability, sovereign benefits, and local content requirements. The bank is also expected to collaborate with over 700 African financial institutions to distribute risk and attract private capital into the sector.
Beyond direct project financing, the institution is expected to play a role in strengthening the financial capacity of African national oil companies. In Angola, state oil firm Sonangol is preparing for a potential initial public offering in 2027, with plans to list up to 30 percent of its shares to broaden access to capital and support its long-term growth strategy.
Industry stakeholders view the launch of the African Energy Bank as one of the most significant developments in Africa’s hydrocarbon sector in recent years, particularly at a time when access to capital remains a key constraint on project execution.
The AOG 2026 conference is expected to provide a platform for policymakers, investors, and operators to assess how the new institution can reshape financing dynamics and accelerate energy development across the continent.
