Business News of Monday, 27 May 2024
Source: GNA
Africa Energy Bank to be ready by 2024 third quarter – APPO Secretary General
Mr Egbert Faibille Jnr, Chief Executive Officer, Petroleum Commission, Ghana
Preparations for the Africa Energy Bank (AEB), promoted by the Africa Petroleum Producers Organization (APPO) and Afreximbank, are in advanced stages.
The bank aims to invest in oil and gas projects across Africa. Ghana is a strong contender for hosting its headquarters. The bank is expected to launch by the third quarter of 2024.
Dr. Omar Farouk Ibrahim, APPO's Secretary General, mentioned that founding documents have been discussed, and member countries have already made payments.
The APPO Roundtable in Accra focused on reducing gas flaring and methane emissions, with Ghana's Petroleum Commission hosting the event.
The initiative aims to address climate challenges and enhance energy access.
