African Petroleum Organisation Urges Banks to Boost Energy Sector Support

Luanda: Secretary-General of the African Petroleum Producers Organisation, Farid Ghezali, has issued a call to banks to mobilise resources for the continent's energy sector. This appeal was made during a videoconference at the 7th Angola Oil and Gas International Conference and Exhibition (AOG 2026). According to Angola Press News Agency, Ghezali highlighted the ongoing challenges faced by viable African energy projects due to insufficient financial backing. He emphasized the urgent need for Africa to enhance its financial capabilities, with banks playing a pivotal role in this initiative. Ghezali outlined the importance of transforming Africa's potential into tangible economic value through investments in infrastructure, refining, and gas development. He also stressed the necessity of bolstering local industries to create value chains that generate employment and public revenue. The success of the energy sector, he argued, should not only be gauged by production and export figures but also by electricity g eneration, job creation, and economic contributions. Describing AOG 2026 as a testament to the commitment to extract greater value from Africa's energy resources, Ghezali underscored the continent's ambition to harness energy as a catalyst for industrial growth and shared prosperity. He noted that Angola's vision for the energy sector aligns with this continental ambition, emphasizing that natural resources should support broader objectives like industry, technology, entrepreneurship, and regional integration. The 7th Angola Oil and Gas International Conference and Exhibition spans two days, bringing together industry specialists and companies to discuss oil and gas exploration and production, energy transition, and sustainability. The event's official opening is scheduled for this afternoon.