At the launch of the 2nd International Exhibition of Extractive and Energy Resources (SIREXE) on March 23, 2026, Côte d’Ivoire’s Energy Minister, Mamadou Sangafowa Coulibaly, emphasized the urgent necessity of the African Energy Bank (AEB) for the continent’s sovereignty.
As international donors increasingly pivot away from fossil fuel financing in favor of green energy policies, the AEB is positioned as the primary financial bulwark for Africa’s oil and gas future. Headquartered in Abuja, Nigeria, the bank aims to fill the funding void left by global financial institutions and ensure that African nations maintain control over their own natural resources.
Minister Coulibaly noted that relying on uncertain external capital is no longer viable, especially as Middle Eastern tensions threaten global energy stability. The operational launch of the AEB, initially planned for 2025, is now scheduled for the first half of 2026. This shift marks a historic turning point, providing a sustainable financing mechanism capable of supporting large-scale extractive projects across the continent. Nigeria recently facilitated this transition by officially handing over the fully equipped headquarters, located within the Afreximbank African Trade Centre, to the African Petroleum Producers’ Organization (APPO).
Beyond financing, the strategy involves a broader push for regional integration, including the pooling of electricity grids to enhance national policy effectiveness. A forthcoming memorandum of understanding between Côte d’Ivoire and Botswana, expected during the SIREXE conference in November 2026, highlights the growing commitment to South-South partnerships. By establishing a stable, internal financing arm, Africa aims to transform its extractive resources into drivers of inclusive growth and genuine energy independence.
AP/Sf/fss/abj/APA