Badawi takes part in APPO ministerial meeting in Cameroon
Updated 11/3/2024 3:49:00 AM
Arab Finance: The Egyptian Minister of Petroleum and Mineral Resources has attended the 46th African Petroleum Producers Organization (APPO) Council of Ministers meeting in Yaoundé, Cameroon, as per a statement.
This session brought together eight energy ministers from across Africa to discuss key issues impacting the continent’s oil and natural gas sector.
The ministerial meeting reviewed major initiatives, including progress on the African Energy Bank. This bank's founding agreement was signed in Cairo in June 2024, at the Egyptian Ministry of Petroleum and Mineral Resources.
Nigeria, the host country for the African Energy Bank’s headquarters, announced that preparations are underway for its launch in January 2025.
The ministers also discussed strengthening regional cooperation, promoting sustainable energy development, and finding solutions to Africa’s energy access and funding challenges, especially in light of the global shift toward clean energy.
Badawi expressed Egypt’s support for African energy development by highlighting the capabilities of Egyptian companies in oil and gas.
He also emphasized Egypt’s goal to assist member countries in enhancing their energy sectors and encouraged collaboration to ensure Africa’s resources benefit its people.
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