https://en.sputniknews.africa/20240316/which-seven-african-countries-are-vying-to-host-african-energy-bank-1065576558.html
Which Seven African Countries Are Vying to Host African Energy Bank?
Which Seven African Countries Are Vying to Host African Energy Bank?
Sputnik Africa
The African Energy Bank, established through a collaboration between the African Petroleum Producers Organization (representing petrostates in Africa) and the... 16.03.2024, Sputnik Africa
2024-03-16T10:19+0100
2024-03-16T10:19+0100
2024-03-16T10:28+0100
algeria
benin
ghana
egypt
cote d'ivoire (ivory coast)
nigeria
south africa
bank
sub-saharan africa
bola tinubu
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Algeria, Benin, Egypt, Nigeria, South Africa, Ghana and Côte d'Ivoire are among the main candidates to host the headquarters of the emerging African Energy Bank (AEB), business news agency Ecofin reported.The host will be selected this month and all organizational work to create the bank must be completed by June 30, according to analytical company S&P.The bank reportedly intends to secure an initial funding of $5 billion from African signatories, international financiers, and Middle Eastern states.The AEB's mission is to provide a powerful impetus to energy development on the African continent through investment, including in the private sector. The initiator of the creation of the bank is the African Petroleum Producers Organization, which unites 18 countries. Its headquarters is located in the capital of the Republic of Congo — the city of Brazzaville.Interestingly, Nigeria wants to host another major financial project in Africa — the African Central Bank, which should be launched by 2028. Nigeria's President Bola Tinubu proposed in February to host the bank in his country's capital, Abuja.According to the African Union's website, the purpose of the African Central Bank "will be to build a common monetary policy and single African currency as a way to accelerate economic integration."
https://en.sputniknews.africa/20240218/nigeria-proposes-to-host-african-central-bank-in-abuja-countrys-president-says-1065138668.html
algeria
benin
ghana
egypt
cote d'ivoire (ivory coast)
nigeria
south africa
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north africa
southern africa
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Christina Glazkova
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algeria, benin, ghana, egypt, cote d'ivoire (ivory coast), nigeria, south africa, bank, bola tinubu, central bank, finance, economy, west africa, north africa, southern africa
algeria, benin, ghana, egypt, cote d'ivoire (ivory coast), nigeria, south africa, bank, bola tinubu, central bank, finance, economy, west africa, north africa, southern africa
Which Seven African Countries Are Vying to Host African Energy Bank?
10:19 16.03.2024 (Updated: 10:28 16.03.2024) Christina Glazkova
Writer / Editor
The African Energy Bank, established through a collaboration between the African Petroleum Producers Organization (representing petrostates in Africa) and the African Export-Import Bank, aims to provide financial support for oil and gas initiatives in Africa, addressing the challenges posed by limited funding opportunities in recent years.
