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Africa
Afreximbank, the 'oil companies' bank', refuses to give up on black gold

Afreximbank president and chairman, Benedict Okey Oramah. © Jennifer Graylock/Sipa USA/Reuters

Afreximbank is being pressured by its Western partners to move away from financing fossil fuel projects. The pan-African lender is nevertheless working on the creation of a new bank entirely dedicated to the sector, even if the plan faces many obstacles. [...]

Published on 22/03/2023 at 05:40 GMT Reading time 2 minutes

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Finance, Energy

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Afreximbank
African Energy Bank
African Petroleum Producers' Organization
China National Offshore Oil Corp
Okey Oramah
Omar Farouk Ibrahim
Societe nationale des petroles du Congo
Standard Bank
TotalEnergies

Spotlight | West Africa
Africa Energy Bank hampered at the starting blocks

African governments have been slow in releasing the funds promised for the future African hydrocarbon bank. The project, led by Nigeria's Omar Farouk Ibrahim, is scheduled to launch in the first quarter of 2025, but only a portion of the financing it needs has been raised.

Subscribers only Energy 19.11.2024

Omar Farouk Ibrahim, Secretary General of the African Petroleum Producers' Organization, in Cairo, on 14 February 2022.

Nigeria
Africa Energy Bank calls on services of consultancy firms PwC and BrandComms

The secretary general of the African Petroleum Producers' Organization has hired several companies to help with the new pan-African bank, including PwC, which is working on a future strategy.

Subscribers only Finance, Energy 11.11.2024

Africa
Africa Energy Bank looks as far as Caracas for new HQ

The APPO intends to launch an aid programme for oil producing countries in Africa, and Venezuela is on the list of potential host countries for the bank's headquarters.

Subscribers only Finance, Energy 01.04.2024

Egypt
Afreximbank inks $32m move to Cairo's New Administrative Capital

The Cairo-based African Export-Import Bank is to move to President Sisi's new capital megaproject to the east, with Egyptian authorities pushing other international organisations to follow.

Subscribers only Finance, Business 08.09.2023

Benedict Okey Oramah, President of Afreximbank, on 14 December 2022, in Washington, DC, USA.

South Africa
Africa's Oil Week and Energy Week battle it out in Cape Town

Competing African energy and hydrocarbons conferences were held a week apart in Cape Town in October. The rival entities, the Hyve Group, which organises Africa Oil Week, and the African Energy Chamber lobbyists who run Africa Energy Week, are in a no-holds-barred battle for supremacy.

Subscribers only Energy, Business 31.10.2022

South African Energy Minister Gwede Mantashe (here at Africa Oil Week) attended both conferences.

Spotlight | Africa
Afreximbank, Standard Bank and French banks among last financiers of hydrocarbons in Africa

More and more banks, caught between the hammer of oil companies and the anvil of NGOs, are turning their backs on fossil fuel projects in Africa. Only a handful are still showing support for the sector.

Subscribers only Finance, Energy 17.08.2022

Uganda
Museveni's team forced to curb downstream goals

The government is struggling to garner enough enthusiasm from private sector partners to finance its ambitious refinery and storage projects.

Subscribers only Energy 08.07.2022

Inner circles | Angola
Sovereign fund dream team, unloved by Lourenço, fights for survival

The Fundo Soberano de Angola, a leftover from the dos Santos era, has lost its shine since João Lourenço came to power. The technocrats appointed in 2018 to run the fund have been forced to shrink their ambitions in the face of a drastic reduction of its portfolio and the government's patent lack of interest.

Subscribers only Energy 19.03.2021

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Afreximbank
African Energy Bank
African Petroleum Producers' Organization
China National Offshore Oil Corp
Okey Oramah
Omar Farouk Ibrahim
Societe nationale des petroles du Congo
Standard Bank
TotalEnergies

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Africa
Afreximbank, the 'oil companies' bank', refuses to give up on black gold

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Set up email notifications for these topics

Spotlight | West Africa
Africa Energy Bank hampered at the starting blocks

Nigeria
Africa Energy Bank calls on services of consultancy firms PwC and BrandComms

Africa
Africa Energy Bank looks as far as Caracas for new HQ

Egypt
Afreximbank inks $32m move to Cairo's New Administrative Capital

South Africa
Africa's Oil Week and Energy Week battle it out in Cape Town

Spotlight | Africa
Afreximbank, Standard Bank and French banks among last financiers of hydrocarbons in Africa

Uganda
Museveni's team forced to curb downstream goals

Inner circles | Angola
Sovereign fund dream team, unloved by Lourenço, fights for survival

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Africa Intelligence on social media

Indigo Publications' websites

About Africa Intelligence

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Indigo Publications' websites

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Africa Afreximbank, the 'oil companies' bank', refuses to give up on black gold

This article may be accessed by subscribers

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create a free account

Set up email notifications for these topics

Spotlight | West Africa Africa Energy Bank hampered at the starting blocks

Nigeria Africa Energy Bank calls on services of consultancy firms PwC and BrandComms

Africa Africa Energy Bank looks as far as Caracas for new HQ

Egypt Afreximbank inks $32m move to Cairo's New Administrative Capital

South Africa Africa's Oil Week and Energy Week battle it out in Cape Town

Spotlight | Africa Afreximbank, Standard Bank and French banks among last financiers of hydrocarbons in Africa

Uganda Museveni's team forced to curb downstream goals

Inner circles | Angola Sovereign fund dream team, unloved by Lourenço, fights for survival

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Senegal
Guns and oil drive Russia's Dakar courtship

Botswana, South Africa
From Gaborone to Antwerp, is De Beers's empire on the rocks?

Africa
Afreximbank, the 'oil companies' bank', refuses to give up on black gold

Spotlight | West Africa
Africa Energy Bank hampered at the starting blocks

Nigeria
Africa Energy Bank calls on services of consultancy firms PwC and BrandComms

Africa
Africa Energy Bank looks as far as Caracas for new HQ

Egypt
Afreximbank inks $32m move to Cairo's New Administrative Capital

South Africa
Africa's Oil Week and Energy Week battle it out in Cape Town

Spotlight | Africa
Afreximbank, Standard Bank and French banks among last financiers of hydrocarbons in Africa

Uganda
Museveni's team forced to curb downstream goals

Inner circles | Angola
Sovereign fund dream team, unloved by Lourenço, fights for survival