Speaking during a fireside chat at the Angola Oil & Gas (AOG) 2026 Conference and Exhibition this week, Haytham El Maayergi, Executive Vice President, Global Trade Bank at Afreximbank, said the institution and the African Petroleum Producers’ Organization (APPO) are developing the AEB in response to financing constraints facing African projects.

“Africa is suffering from a financing fluctuation challenge. We are looking at becoming more strategic in assessing how we can help Africa and Angola address this,” he said, highlighting how the AEB is set to become the largest oil and gas financier in the world once it becomes operational.

The AEB aligns with Afreximbank’s broader strategy in Angola, centered around strengthening local ownership, empowering local financial institutions and advancing regionally-integrated projects. He pointed to the role Afreximbank has already played in unlocking capital across African energy markets, highlighting how every $5 billion deployed by the institution in the oil sector has helped mobilize an additional $14 billion.

“We need to think long-term and how we can finance projects strategically. We also need to get behind the AEB which starts with an initial capitalization of $5 billion,” he said.

Afreximbank has already established a strong presence in Angola, but according to El Maayergi, the institution is looking at strengthening its footprint in the market even further. Rather than focusing on isolated projects, he described the institution’s strategy as being focused on regional integration: “We are more and more focused, not on isolated projects, but pulling together the full ecosystem. A lot of work will be done in this area.”

Beyond project financing, El Maayergi explained that over the next five years, Afreximbank also strives to “help create the next five big Angolan oil companies, supporting companies expand their pan-African strength.” This comes as the institution moves to strengthen local capacity, positioning Angola companies as active participants in the oil sector. 

With the AEB set to open a new source of African-led capital, Afreximbank is positioning financing as a catalyst for building stronger Angolan operators. Its strategy ultimately aims to turn local companies into regional players capable of investing and competing across African markets.