On August 7, 2026 the Environment Governance Institute (EGI) together with representatives from Africa Finance Watch met and engaged in a high level discussion with the leadership of African Export-Import Bank (Afreximbank), calling for the bank to lead a just and future-fit energy transition for Africa.
The meeting drew participants from Senior Management and representatives in board of Afrexim Bank including key staff from Afreximbank’s regional office, led by Regional Operations Manager Mr. Humphrey Nwugo, and some of the Cairo management team, providing a diplomatic platform for EGI and other civil society to express the realities facing communities hosting fossil fuel projects financed by the Bank.
The meeting offered an opportunity for EGI and other Africa Finance Watch partners to present a joint civil society statement that was addressed to Afreximbank’s President and Board Chairman, Dr. George Elombi, urging the Bank to demonstrate leadership in financing Africa’s green energy future and chart possible avenues and strategies on aligning African financial institutions with the continent’s sustainable development aspirations and ensuring that the voices of frontline communities are heard in the corridors of financial power.
The statement was signed by 62 civil society organisations from across the continent, articulating just energy priorities to be undertaken by Afreximbank and underscoring lived realities drawn from evidence-based experiences across Africa.
Samuel Okulony, EGI Chief Executive Officer in his keynote remarks recognised the critical role Afreximbank plays in advancing trade, industrialisation, and Africa’s financial sovereignty. He however noted that while the bank has made recent financial support in clean energy infrastructure, including the $55.1 million 50-megawatt solar project in Malawi and $125 million in electric mobility company Spiro among others, this is modest compared to the Bank’s continued and expanding support for fossil fuel infrastructure across the continent.
He noted that the discrepancy underscores the need for Afreximbank to reflect carefully on the decisions it makes at this critical juncture, as its financing choices will determine whether Africa’s development trajectory advances toward resilience, shared prosperity, and sustainable energy security, or becomes further locked into climate vulnerability, stranded assets, and social conflict.
He urged Afreximbank to consider scaling up support to renewable energy pathways considering that clean technologies across Africa are already demonstrating more resilient, cost-effective, and inclusive models of development. He underscores that Morocco’s Tarfaya Wind Farm, with 300 MW installed capacity, generates power for hundreds of thousands while avoiding over 900,000 tonnes of CO₂ annually. Egypt’s Benban Solar Park has rapidly scaled up clean energy generation through large-scale public-private investment models.
He further noted that across the continent, decentralized energy systems including mini-grids and pay-as-you-go solar solutions are enabling millions of households and small businesses to access affordable electricity, creating opportunities for local job creation, energy sovereignty, and long-term economic resilience. These investments are precisely the kind of future-fit solutions that Afreximbank can champion at scale.
Against this backdrop, EGI called on Afreximbank to take four concrete actions. First, to develop a comprehensive energy transition strategy with a clear pathway for progressively aligning its energy portfolio with the Paris Agreement, climate resilience, and Africa’s long-term structural transformation goals. Second, to establish structured dialogue with civil society and affected communities anchored within the Bank’s governance structures, creating predictable channels through which concerns can be raised early and emerging risks addressed before they escalate into conflict or harm. Third, to commission a joint study on pathways for financing Africa’s just energy transition, ensuring that decisions are informed by rigorous evidence and community perspectives. Fourth, to develop transition criteria for evaluating investments, strengthening disclosure standards, due diligence expectations, and accountability systems for projects with significant environmental, social, and human rights risks.
In the same vein of discussion, John Peter Okwi, Programmes coordinator of EGI proposed the need for the bank to come up with an Afreximbank African Energy Transition Finance Observatory. This he noted will systematically serve a need to track energy investments, distinguish between fossil fuel, transitional and renewable energy financing and create a platform for banks to measure climate and development outcomes.
The Afreximbank team acknowledged the recommendations in the statement and pledged to share the civil society precedents with the President, Dr. George Elombi, and provide formal feedback.
This marks a historic moment of harmonising diplomatic communication between EGI and Afreximbank, building on ongoing efforts by civil society in urging financial institutions to align their investments with net zero emissions and shape a sustainable Africa’s energy future.
A call to Afreximbank and other financial institutions to open up more spaces of engagement with Civil society organisation to foster a shared goal of having an African Just energy transition and investments that bolsters African sovereignty and responds to needs of people and planet.
By John Peter Okwi
Programmes coordinator
EGI-Uganda
