The African Petroleum Producers’ Organization (APPO) and Afreximbank shared updates on the establishment of the $5 billion Africa Energy Bank on Monday at AEW: Invest in African Energies, aimed at addressing Africa’s persistent energy financing challenges. Speaking during a workshop titled Africa Energy Bank Take-Off – Bridging the Financing Gap for Africa’s Energy Sector, Dr. Omar Farouk Ibrahim, Secretary General of APPO, said the bank has made rapid strides in raising funds. He highlighted the continent’s energy access challenges: “More than 600 million Africans lack electricity… yet we export 75% of our oil production and 45% of gas. If we want energy for our people, then we have to fund the projects.”Ibrahim emphasized that Africa must lead its own energy financing. The annual energy finance gap is estimated at $31–50 billion, and fossil fuels still account for 35 - 82% of government revenues in some countries, making closing these gaps critical to achieving energy access and supporting development.