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The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organization (APPO), who have had a long, mutually beneficial relationship, have signed an agreement for the joint establishment of an African Energy Bank (www.EnergyChamber.org<\/a>) at the 8th<\/sup> African Petroleum Congress and Exhibition (CAPE VIII) in Luanda, Angola.<\/p>\n<\/p>\n All parties involved in the signing \u2013 Rene Awambeng, Director and Global Head Client Relations, Afreximbank, and Dr Omar Farouk, Secretary General of APPO, in the presence of H.E. Jo\u00e3o Manuel Gon\u04abalves Louren\u04abo, President of the Republic of Angola, and APPO Ministers \u2013 are concerned about challenges faced by Africa\u2019s oil and gas industry and the continent\u2019s economic development, and all parties acknowledge the impact of climate change on the continent and the need for a just transition in line with the United Nations Sustainable Development Goals and the African Union Agenda 2063.<\/p>\n \u201cAs we address the energy transition challenges facing the world and Africa, we should be mindful of the fact that Africa still needs to rely on its natural resources, including oil and gas, for its future development. Through this new venture, Afreximbank and APPO are working towards achieving this vision,\u201d Rene Awambeng, Director and Global Head Client Relations, Afreximbank said at the signing ceremony.<\/p>\n In line with the agreement, the two institutions have resolved to work together to find an African-led solution to combat the threat presented to the African oil and gas industry, brought on by the coordinated withdrawal of international trade and project financing, and have committed to taking necessary steps to find a solution to this challenge.<\/p>\n \u201cThe new bank will deal with the vacuum created by the withdrawal of international banks from the financing of oil and gas projects in Africa,\u201d stated Awambeng, adding that, \u201cIt will be an African-led solution to address the threat posed to the African oil and gas industry from the shortages of funding. This will be a balanced solution with the goal of preserving both the environment and livelihoods.\u201d<\/p>\n Distributed by APO Group on behalf of African Energy Chamber.<\/i><\/p>\n Source<\/a> The African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organization (APPO), who have had a long, mutually beneficial relationship, have signed an agreement for the joint establishment of an African Energy Bank (www.EnergyChamber.org) at the 8th African Petroleum Congress and Exhibition (CAPE VIII) in Luanda, Angola. All parties involved in the signing \u2013 Rene […]<\/p>\n","protected":false},"author":11,"featured_media":86282,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/www.africa-newsroom.com\/uploads\/socialshare.jpg","fifu_image_alt":"","footnotes":""},"categories":[4262],"tags":[6175,258,256,4380,3941,4263,33082,7089,7424,5741,257,9218,5733,8657,254],"class_list":["post-86281","post","type-post","status-publish","format-standard","has-post-thumbnail","category-angola","tag-afreximbank","tag-africa","tag-africa-news","tag-african","tag-angola","tag-angola-news","tag-appo","tag-bank","tag-energy","tag-launch","tag-news","tag-organization","tag-petroleum","tag-producers","tag-south-africa-today"],"fifu_image_url":"https:\/\/www.africa-newsroom.com\/uploads\/socialshare.jpg","_links":{"self":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/86281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/comments?post=86281"}],"version-history":[{"count":0,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/posts\/86281\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media\/86282"}],"wp:attachment":[{"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/media?parent=86281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/categories?post=86281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/southafricatoday.net\/africa-news\/wp-json\/wp\/v2\/tags?post=86281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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South Africa Today Africa \u2013 Southern Africa Angola<\/a> News<\/p>\n","protected":false},"excerpt":{"rendered":"