November 5, 2025
The African Petroleum Producers’ Organization (APPO) has renewed its commitment to the establishment of the Africa Energy Bank (AEB) following the conclusion of its 48th Ordinary Session of the Ministerial Council, held on November 4, 2025, in Brazzaville under the High Patronage of His Excellency Denis Sassou Nguesso, President of the Republic of Congo.
Delivering a goodwill message on behalf of President Sassou Nguesso, Prime Minister Anatole Collinet Makosso commended APPO for its achievements over the past 38 years and lauded the progress made towards establishing the Africa Energy Bank. He reaffirmed Congo’s unwavering support to APPO as both a founding member and host country and announced plans for the country to host the first-ever APPO Heads of State Summit in 2026, where the Energy Bank will be a central agenda item.
The Ministerial Council, chaired by H.E. Bruno Jean Richard Itoua, Minister of Hydrocarbons of the Republic of Congo and current APPO President, emphasized the need for all member states to ensure the swift subscription and payment of their allocated shares to enable the Bank’s official take-off. According to the APPO Charter, a minimum capital subscription of US$500 million is required for the Bank’s launch.
A ministerial working group, led by Algeria’s Minister of State for Hydrocarbons and Mines, H.E. Mohamed Arkab, was mandated to oversee the completion of the Bank’s establishment process, supported by members of the Executive Board, the APPO Secretariat, and the Africa Energy Investment Corporation (AEICorp).
Additionally, the Council established another Ministerial Working Group on AEICorp, to be chaired by Senegal’s Minister of Energy, Petroleum and Mines, H.E. Birame Soulèye Diop. The group will focus on enhancing AEICorp’s strategic operations and governance.
The session was attended by ministers, heads of delegations, and representatives from 16 member countries, along with the APPO Secretary General, AEICorp Managing Director, and their respective teams.
During the meeting, the Council approved the external audit reports of the Secretariat’s 2024 financial statements and endorsed its 2026 Work Programme. It also appointed Mr. Farid Ghezali as APPO’s new Secretary General for the 2026–2028 term, succeeding Dr. Omar Farouk Ibrahim, who was commended for his six years of distinguished service to the organization and Africa’s energy sector.
Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, H.E. Mamadou Sangafowa-Coulibaly, and the Democratic Republic of Congo’s Minister of State for Hydrocarbons, H.E. Acacia Bandubola Mbongo, were elected as APPO President and Vice President, respectively, for 2026.
Mr. Karrol Kadiata Leta of the Democratic Republic of Congo and Eng. Ehab Ragaee of Egypt were appointed as Chairman and Alternate Chairman of the Executive Board for the same period.
In closing, the Ministerial Council expressed deep appreciation to President Denis Sassou Nguesso and the people of Congo for their warm hospitality and successful hosting of APPO’s 2025 statutory meetings. The next Ordinary Session of the Ministerial Council is scheduled to take place in Côte d’Ivoire during the last quarter of 2026.