Nigeria has gone on the charm offensive in its bid to host the Africa Energy Bank (AEB) as it met with the influential Africa Petroleum Producers Organisation (APPO) in Abuja this week. On 4 June, APPO and the African Export-Import Bank (Afreximbank) met for the “historic signing” of the Establishment Agreement and the Charter of the Africa Energy Bank (AEB) at a ceremony in Cairo. Nigeria, alongside Algeria, Egypt, South Africa, Benin Republic, Ghana and Cote D’Ivoire are in the running to host the AEB. “… providing the bank with unparalleled access to key energy markets and decision-makers across Africa.”“Nigeria’s rich endowment of oil, gas, and renewable energy resources presents an unparalleled opportunity for the Africa Energy Bank to harness the continent’s vast energy potential and drive sustainable development,” he said. Africa Energy Bank: Favourite emerges as race to host heats upAPPO consists of 18 countries: Algeria, Angola, Benin, Cameroon, Chad, Congo, DR Congo, Côte d’Ivoire, Egypt, Ghana, Equatorial Guinea, Gabon, Libya, Namibia, Niger, Nigeria, Senegal, and South Africa.

Source: The North Africa Journal June 14, 2024 09:09 UTC